US Govt Debt Bomb Has Much More Gunpowder Than Most Americans Realize

Thursday, January 17, 2019
By Paul Martin
January 17, 2019

Even with the govt shutdown, the debt bomb gets larger. We saw a big one-day jump in the national debt just this week. Here’s why that’s a problem…

by Steve St Angelo of SRSrocco Report

The U.S. Federal debt bomb continues to increase, even with the government shut down. In just one day, the U.S. public debt increased $50 billion on Jan 15th. While the total outstanding Federal debt has now reached nearly $22 trillion, it doesn’t include all U.S. government debt.

That’s correct… there’s a lot more debt than Americans realize sitting on the balance sheet of the U.S. Government. For example, there are other obligations such as U.S Government Agency Debt that isn’t well-known. According to the website, U.S. Agency debt is the amount of outstanding debt issued by federal agencies (such as FHLB and GNMA) and government-sponsored enterprises (such as Fannie Mae and Freddie Mac). The amount of U.S. Agency debt

Then we have also to include State and Local Debt that is not apart of the U.S. Federal public debt. California holds the highest amount of State Debt in the country at $155 billion followed by New York at $141 billion. You can check out the debt of each state here: Compare State Debt.

Okay, let’s start adding up all the U.S. Government debt and put it into perspective. The total U.S. Federal debt is $21.97 trillion while U.S. Agency debt comes in at a whopping $9.26 trillion and State-Local Debt is $3.1 trillion:

The Rest…HERE

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