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To: sea_urchin who wrote (22306)1/20/2005 12:19:49 PM
From: philv  Respond to of 80934
 
The $500K figure must include all debt, not just Fed. govt. debt. The 7 trillion (closer to 8 trillion now) certainly does not add up to that, but if one takes Fed. obligations, unfunded liabililties, personal, state, city, etc. etc. it amounts to a few bucks.

However, here is an interesting table of debt constituents.

concordcoalition.org

Btw, some estimates of family debt runs to about 120 million/

But of course that depends on the size of the family.

Luckily, Bush, the fiscal conservative, has been thinking about the debt a lot lately, and his proposal to shift pension obligations away from the government to private enterprise will in the long run save the government trillions of dollars, no doubt.

The next big shift will have to occur in the health area for even greater savings.

Nice to know the government will be saving money on behalf of the people. I just wonder who will be paying?



To: sea_urchin who wrote (22306)1/21/2005 1:12:29 AM
From: Nikole Wollerstein  Read Replies (2) | Respond to of 80934
 
"$500,000 would put US government debt at around $50 trillion"

$50 trillion" number include uncovered liabilities for SS
and Medicare until 2050 or 2070