What country has no debt?

Is China debt free?

No, China is not debt-free. In fact, China has one of the largest debt burdens in the world, with total public and private debt estimated to be around 296% to over 300% of its GDP as of late 2025. While the central government holds relatively lower debt, massive, largely hidden debt from local governments and state-owned companies drives this high total.

Who owns the 37 trillion debt?

As of early 2026, the U.S. national debt has reached over $37 trillion, with more than two-thirds owed to domestic holders—including the Federal Reserve, private investors, banks, and U.S. government trust funds. The remaining portion is held by foreign governments, with Japan, the United Kingdom, and China being the largest foreign creditors.

Did Bill Clinton pay off the national debt?

No, President Bill Clinton did not pay off the entire national debt. However, his administration did balance the federal budget and successfully paid down a portion of the publicly held debt.

Who does Britain owe money to?

The UK government owes over £2.9 trillion in national debt, primarily to investors holding gilts (government bonds). Roughly 30% is held by the Bank of England (via quantitative easing), 30% by overseas investors, and about 40% by domestic UK entities like pension funds, insurance companies, banks, and individual households.

What percent of Americans are 100% debt free?

How Many Americans Are 100% Debt-Free? What percentage of Americans have debt? Here's the short answer: According to recent Federal Reserve data, only about 23% of Americans have no debt. The rest (approximately 77%) have some sort of debt.

What is the poorest country in the world?

South Sudan is the poorest country in the world. According to international economic data, it has the lowest Gross Domestic Product per capita adjusted for Purchasing Power Parity (GDP-PPP), with estimates falling between $455 and $716.

Is France in more debt than the UK?

The UK has a lower government budget deficit (5.1% of GDP in 2024 versus 5.8% in France) and a smaller debt burden (101% of GDP versus 113%).

Who was the only president to pay off debt?

Andrew Jackson is the only U.S. president to have completely paid off the national debt. On January 8, 1835, his administration achieved a $0 balance by selling public lands and vetoing federal spending, though this accomplishment was short-lived and contributed to the Panic of 1837.

Is the UK debt free?

The UK, like a number of other developed economies, is facing a difficult fiscal outlook. Public debt, at 101% of GDP and climbing, is historically high outside of major wars. At the same time, the deficit was 5.7% of GDP in 2024—the third-highest among European countries.

Why is America in so much debt?

The U.S. national debt exists because the federal government consistently spends more money than it collects in tax revenue, requiring it to borrow funds to cover the difference. This structural deficit has been driven by systemic tax cuts, rising healthcare costs, and an aging population, as tracked by U.S. Treasury Fiscal Data.

Who's richer, Germany or the UK?

Yes, Germany is considered richer than the UK, holding the position of Europe's largest economy with a 2026 projected GDP of $5.4 trillion, compared to the UK's $4.3 trillion. Germany's economy is characterized by a stronger industrial base and more evenly distributed regional wealth, whereas the UK has a significant prosperity gap and relies heavily on London-centric services.

Which country in Europe has the highest debt?

Greece holds the highest debt-to-GDP ratio in Europe, standing at approximately 146% to 150% of its Gross Domestic Product. In absolute nominal figures, France and Germany carry the largest total external debts, with France holding over $9 trillion and Germany holding nearly $8 trillion in total obligations.

Is Britain still paying WWII debt?

During the course of the First and Second World Wars the UK incurred a number of debts, primarily to the US and Canada. The creation of these debts and repayment of the subsequent loans are described in this note. These debts were completely repaid at the end of 2006.

Who was the last president to actually balance the budget?

President Bill Clinton was the last president to balance the federal budget. His administration recorded budget surpluses for four consecutive fiscal years, from 1998 to 2001.

When was the last time the US paid off its debt?

By January of 1835, for the first and only time, all of the government's interest-bearing debt was paid off. Congress distributed the surplus to the states (many of which were heavily in debt). The Jackson administration ended with the country almost completely out of debt!

Who was the last president to run a surplus?

Since 1981, federal budget deficits have increased under Republican presidents Ronald Reagan, both Bushes, and Trump, while deficits have declined under Democratic presidents Clinton and Obama. The federal government ran surpluses during Clinton's last four fiscal years, the first surpluses since 1969.

What would happen if China stopped buying US debt?

If China stopped buying U.S. debt, it would likely lead to higher U.S. interest rates and a weaker dollar, but it would also significantly harm China’s own economy. While a massive dump of Treasury holdings could cause volatility, other investors would likely step in to purchase the bonds, and the U.S. might benefit from faster net export growth.

Why does Warren Buffett own so many T-bills?

T-bills, favored for their safety, yield, and liquidity, are core to Buffett's strategy. High market valuations and lack of targets lead Berkshire to prioritize T-bills. Berkshire's T-bill position highlights the value of liquidity in uncertain markets.

Who has the most debt on the planet?

Top 5 by Total Debt

• 🇺🇸 United States. 38.94T. #1.
• 🇨🇳 China. 18.70T. #2.
• 🇯🇵 Japan. 9.80T. #3.
• 🇬🇧 United Kingdom. 4.10T. #4.
• 🇫🇷 France. 3.90T. #5.