If fully realised, the two-year spending spree would amount to about 16% of China's annual gross domestic product.

ECONOMIST: A $586 billion stimulus plan for China's economy

By the end of 2011, the Office of Management and Budget expects the gross amount of federal debt to exceed the size of America's entire economy for the first time in over 65 years.

WSJ: Rick Perry: My Tax and Spending Reform Plan

However, the OECD warned that Japan's economic recovery was "surrounded by uncertainty" given the country's high debt levels, which amount to more than 200% of gross domestic product (GDP).

CNN: OECD: End nears for Japan's deflationary spiral