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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: Haim R. Branisteanu	10/28/2008 12:10:15 PM
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What is the actual debt of the US that must be covered by tax revenues including state and municipal taxes. Freddy and Fanny debt are mortgages - how much of those mortgages will end up as US debt? Same to the FED from where will the FED cover all the bailouts and how much will go on tax payer expense? The reason for those questions are to evaluate GDP to government debt in the US. I do think that state and municipality debt should be incorporated in the general obligation of US debt. Further has the EU any public debts? and how much are the participating states debts I know Italy has about 110% of GDP

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