The 22 trillion dollar debt of the federal government receives a lot of media attention. But this is only part of the picture. The true figure is an additional 50 trillion dollars.
When discussing America’s debt problem we have to also consider: corporate debt, which has doubled since the last financial crisis; consumer debt, accounting for $13 trillion; and state and local government debt, growing at an alarming rate.
So that is $72,000,000,000,000 and works out at $220,000 for every man, woman and child in the US.
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