The United States is currently 17.8 trillion dollars in debt and is the country with the highest debt in the world. In 2012, The Huffington Post wrote an article about the top ten states with the most debt. California has the most debt then New York, Texas, New Jersey, Illinois, Ohio, Pennsylvania, Florida, Michigan, and Massachusetts respectively. Debt has been a massive problem not only in the United States but elsewhere also. The amount of money being “borrowed” or used is drastically larger than what is being earned.
The US is the country with the most debt in the world. However, we are not the only country to let our debt rise into the trillions. Japan also has debt in the trillions, including Spain and Brazil.
If everyone in the United States paid 55,970 dollars, our debt would be paid off, but with our debt rising so quickly, that number also rises. The easiest and most practical ways to pay off our debts is to raise taxes and lower spending.
From 2012, the top ten states in debt has changed. Some have lowered their debt, but the main reason for it is that one state’s debt raised higher than another. It is a major problem that needs to be acknowledged.