Global debt levels rose to more than 325 percent of the world's gross domestic product last year as government debt rose sharply, a report from the Institute for International Finance showed on Wednesday.
The IIF's report found that global debt had risen more than $11 trillion in the first nine months of 2016 to more than $217 trillion. The report also found that general government debt accounted for nearly half of the total increase.
Emerging market debt rose substantially, as government bond and syndicated loan issuance in 2016 grew to almost three times its 2015 level.
Source: Reuters
(Score: 0) by Anonymous Coward on Friday January 06 2017, @06:17PM
No one seriously advocates straight confiscation, if you hear such phrases they are usually just a reactionary generalization. The proper way is to reform our tax codes and just have companies / individuals pay their fair share.