U.S. Owes $70Trillion , US National Debt Passes $17 Trillion — Thats $53,769 Per Person thats not true , The $48 Trillion that I wrote is way too low , the true number is above $70 Trillion I just dont want people to think I am crazy and exaggerating , For years, the national debt has been reported as being somewhere between $14 trillion and $17 trillion. The actual number, however, may be significantly higher according to an economics professor at the University of California, San Diego. Professor James Hamilton believes the real national debt could be closer to $70 trillion if the federal government factored in its unfunded liabilities, loan guarantees, deposit insurance and the results of certain decisions made by the Federal Reserve. Fox Business News Dagan McDowell discusses the studys finding with Professor Hamilton, California economist says real US debt $70 trillion, US Debt Already Exceeds Debt Limit by $48 Billion Minimum , econbrowser/archives/2013/08/california_econ
Posted on: Wed, 19 Nov 2014 22:42:09 +0000