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Saturday, August 6, 2011

On the origins of the debt-ceiling crisis - PBS Need To Know via N+1 Magazine

Nothing easy here if you need to know - Republicans and Debt Crisis... you get the numbers honestly but you have to read

Letting one dollar equal a trillion, the total debt of the U.S. Government is roughly $14.27. This divides into $8.32 of public debt, which is held by other nations, individuals and institutions, and $5.95 of intragovernmental debt, which is owed to programs like Social Security and Medicare, and to the Federal Reserve.
Of the $8.32 of public debt, $4.47 is owed to other countries: $1.15 to China, $0.91 to Japan, $0.36 to the U.K., roughly $0.20 each to oil exporters and Brazil, and $1.70 to the rest of the world. $0.63 is due to mutual funds, $0.61 to private pension plans, and $0.31 to depositors like commercial banks, credit institutions and credit unions. Insurance companies hold $0.25 and savings bonds and state pensions $.018 each, while individuals, brokers and dealers, bank personal trusts and estates, corporate and non-corporate businesses and other investors are due $1.21. ...

WI 1848 Forward: On the origins of the #Debt , #Deficit - #PBS Need To Know via N+1 Magazine- #47% #AARP vs #Elites

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