California Economist Says Real US Debt $70 Trillion

Or so claims a recent headline. But that’s not what I actually said, as I try to clarify below. In a recent paper I examined off-balance-sheet liabilities of the U.S. federal government. I concluded that these came to $70 trillion as of 2012, or 6 times the size of net federal debt held by the [...] View the full post at: California Economist Says Real US Debt $70 Trillion Related posts: Off-Balance-Sheet Federal Liabilities Global Banks May See Their Balance Sheet Shrink by $2 Trillion in 2009 Nearly $3 Trillion So Far Committed to Stabilize Fiancial Companies, Official Says