Study: U.S. Debt Obligations $70 TrillionSubmitted by emalvini on Tue, 08/06/2013 - 10:29
Study: U.S. Debt Obligations $70 TRILLION
by Wynton Hall 5 Aug 2013
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.”