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  • normlasky normlasky Sep 4, 2011 11:26 PM Flag

    Total US debt

    Yes, the Fed does acknowledge the $50 Trillion in total debt but it also states that the net worth of the United States is $75 Trillion. So what is your point?

    Sounds to me that you're just grasping for straws.

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    • Is that right? The fact I have $100k in savings doesn't reduce consumer debt now does it? Or, if I had an auto loan (which I don't) it wouldn't reduce the loan/debt would it?

      If the US is worth $75T why don't they pay off their debt? Oh, most of it is land, narural resources, infracsture, buildings etc and not easily convertible to cash. Is that the case?

      Spin it however you want - promises made (social security, medicare) is more than $75T. The argument can be made - even if the US could cash out that $75T (which they can't) they would still have a $75T hole (about 500% of GDP). The facts are the facts and the US has a huge debt problem (a lot worse than in the 1930s).

      • 1 Reply to inlet_boater
      • "If the US is worth $75T why don't they pay off their debt? Oh, most of it is land, narural resources, infracsture, buildings etc and not easily convertible to cash. Is that the case?"

        No that's not the case.

        The Federal Reserve data shows that the Household and NonProfit Organizations sector had $48.8 trillion in financial assets (non-real estate)including $8.0 trillion in deposits, $4.3 trillion in treasuries/municipalities, $8.8 trillion in corporate equities, $5.1 trillion in mutual funds.

        Nonfinancial assets (primarily real estate) totaled $23.1 trillion.

 
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