Wednesday, August 7, 2013

U.S. government can follow Detroit this fall

This fall the U.S. government can follow Detroit and declare bankruptcy but this time it can touch the whole country. Officially, the US national debt stands at $16.7 trillion, including nearly $12 million in debt held by the public in the form of Treasury Bonds. According to an influential University of California economist, the national debt is more than $86.8 trillion.

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