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A new study by University of California-San Diego economics professor James Hamilton finds that the United States has over $70 trillion in off-balance sheet liabilities--an amount nearly six times the on-balance-sheet debt figure.
The Treasury debt outstanding is $16.74 trillion. Of that, $4.84 trillion is money the U.S. owes itself. For that reason, explains Matt Phillips of Quartz, “many analysts tend to focus on the $11.91 trillion in debt that is publicly available to be traded.”
I find the premise unfair at best and comparing Apples to Pineapples
hose are real dollars with real paper, people are generally holding in one form or another today. From bonds and T-bills in retirement/pension funds to what other nations hold (the much lower figure).
They are cooking the books they should lay it all out there on the table.
American finances are ROYALLY screwed up.