On the government side, public debt has ballooned to 140 percent of gross domestic product, the highest level of any major developed economy.

In the last 12 years, public debt has ballooned to more than $60 billion, and economists say it is dragging down the Philippine economy.

Despite the high average income of Nassau residents, the county government ran up annual deficits, and its long-term debt ballooned to nearly $3 billion.

Zambia's international debt has ballooned to more than $7 billion, reported to be the highest per capita in the world.

So over the years, short-term debt ballooned while long-term debt rose much more slowly.

Tough reforms on health care, corporate taxation and other areas have been stalled or weakened while the national debt is ballooning.

Canada's public debt has ballooned in the last five years from $166 billion (American) to $290 billion.

As the debt ballooned, nervous investors were only willing to buy short-term instruments.

Budget In the past four years, the gross national debt ballooned from $8.67 trillion to $14.1 trillion, an increase 63 percent.

German debt has ballooned to about $833 billion, 50 percent more than in 1994.