U.S. Government Debt Bomb Much Higher Than Americans Realize

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 USGovernmentSpending.com 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:

Thus, total outstanding U.S. Government debt is a staggering $34.3 trillion. So, there is an additional $12.4 trillion of debt on the U.S. Government balance sheet, which turns out to be more than half of U.S. Federal Debt. A trillion here and a trillion there really starts to add up.

So, if we include all of this debt and compare it to the U.S. GDP, it is substantially higher than the current 104% stated by the Federal Reserve.  By incorporating ALL debt, the total U.S. Government debt to GDP figure is more like 166%.  Of course, the accountants at the U.S. Treasury and Federal Reserve don’t want to include all of this debt because it makes the financial ratios much worse.

1 2
View single page >> |

If you would like to support the SRSrocco Report site, please check out the information.

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.