Everyone might be dreaming of living in a developed country that really taking care of all citizens. All public necessities are all free, public facilities are all good, state of the art and all are well maintained. But even in the most powerful and wealthy country things might not be as good as what we are all thinking, in the developing countries things are even worse.
We all know how powerful America is, It is a dream country where most people can achieve their dream if they want to, and the government is there to help the people achieving the American Dream. Well, at least that is what most people here think about America. Because they seem to have all of the development and we hardly heard any news about the American Debt, not like Indonesia where the national debt is just a means for politicians to criticizes one another.
Recently the news about the emerging issue about how Biden's government is on the edge of a shutdown because the National debt is huge, and there is a fear that the government might fail to repay the debt. According to the news the Federal Funding might run out on the 1st of October if Congress can't pass the bills for the government to increase the debt limit.
American total debt is sitting at US$ 28.781 trillion or about 125% above American GDP. It is so much bigger than the Indonesian national debt which sits at US$ 415 billion or about Rp 6,000 trillion. It is also still at a safe place as they sit at 41% of the Indonesian GDP.
With that comparison, it seems that the Indonesian debt is still way below American debt, but it doesn't mean we have a better economy or public facilities. Because most of that money which was supposed to be used to develop the infrastructure and the national economy are went into the pocket of the crooks and all those corrupt politicians.
But when looking at the lenders for the Indonesian debt, America is the second-largest lender for the Indonesian debt. How can a country is huge debt can still be the biggest lender to another country. Then what will happen to the country that lends money to America if finally, American failed to repay Its debt? Are all of the countries are built on debt?
