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As of July 2012, debt held by the public was $11.12 trillion,
while the intra-governmental debt was $4.81 trillion,
to give a combined total public debt outstanding of $15.93 trillion
Debt held by the public includes Treasury securities held by investors outside the federal government, including that held by individuals, corporations, the Federal Reserve System and foreign, state and local governments.
Debt held by government accounts or intragovernmental debt mainly includes non-marketable Treasury securities held in accounts administered by the federal government that are owed to program beneficiaries, such as the Social Security Trust Fund. Debt held by government accounts represents the cumulative surpluses, including interest earnings, of these accounts that have been invested in Treasury securities.
REP. RYAN: Well, I helped write the legislation that created the TARP
Ryan came under fire this week after reports surfaced that Ryan requested stimulus funds for Wisconsin businesses even as he lambasted President Obama's $787 billion initiative as a waste of money. The congressman initially denied requesting the funds, but later Thursday evening said his office did make make the requests on behalf of the businesses.
The question is, does Romney think that Ryan's record is "radical and extreme," too?
As Politico reported yesterday, during his time in the Congress, Ryan voted for two of President George W. Bush's costliest initiatives: the Medicare Part D prescription drug benefit — estimated to cost more than $700 billion over 12 years — and the invasion of Iraq, costing taxpayers more than $800 billion. He also voted for the auto bailout, the bank bailout and even the highway bill that included the infamous "bridge to nowhere."
Originally posted by seeker1963
reply to post by Indigo5
Well, when you actually think about the "so called" debt and listen to both parties talk about reducing it, if you only understood the MASSIVE interest payments that the U.S. pays the Federal Reserve, then you would understand, that hell has a better chance of freezing over than this fraudulent debt EVER of being payed off!!!