Question

please answer the following question. Thsnk you!

Now we will compare the US to Britain from a debt perspective. Research Britain’s national debt and the percent it is of their GDP. Also, research what percent of our GDP is our current debt.

• Convert (showing me the conversion using unit analysis) Britain’s national debt from pounds, £, to US dollars, $, by researching out the current conversion rate. Be sure you show me how you accomplished your conversion, I actually need to see your conversion from pounds to dollars.

• Compare that dollar amount to the US national debt found in the previous question.

• Compare the “percent of the GDP” for both countries

• As discussed in the text, often that percent of GDP is used to determine debt of a country, discuss which country you believe to be in “more debt.”

Answer 1

• Current National Debt of the US $26.95 trillion (as of September 2020)
• Current Debt to GDP percentage of the US 106.90%
• The current National Debt of Britain is £2.06 trillion(as of September 2020)
• The current Debt to GDP percentage of Britain is 103.5%

• The current National Debt of Britain is $2.67 trillion (based on current conversion rate $1 = £0.77)

Working for conversion: £2.06 trillion / £0.77 = $26,69,18,32,00,000.00

• Comparing the US national debt ($26.95 trillion) to Britain national debt ($2.67 trillion)
• The US national debt is greater than Britain's national debt by $24.28 trillion.

• Comparing debt to GDP ratio of both the countries
• The current Debt to GDP percentage of the US 106.90% is greater than the current Debt to GDP percentage of Britain is 103.5%

• Considering the acquired information and comparisons made above it can be concluded that the US seems to be more in debt as compared to Britain.