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A Quick Tip by Sharrie

  • Jul 10, 2011
  • by
Big topic this weekend. The U.S. government probability of defaulting on its obligations? Unthinkable! But, so was the tsunami that hit Japan 4 months ago!

Dateline: Aug. 2, 2011

Stay tuned!

I hate to say this, but it is now some US$14.48 trillion as I pen this QT! So, how many lifetime does the "presidents" have to work to be out of the red?! It's gonna be nasty if the two parties don't come to agreement soon!

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Sharrie ()
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I'm a traveler at heart & have been nicknamed Travel Queen by friends & colleagues alike. Traveling has been my life passion for the last decade or so. As we enter a new decade, I'm excited … more
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The United States public debt is a measure of the obligations of the United States federal government and is presented by the United States Treasury in two components and one total:

  • Debt Held by the Public, representing all federal[1] securities held by institutions or individuals outside the United States Government;
  • Intragovernmental Holdings, representing U.S. Treasury securities held in accounts which are administered by the United States Government, such as the OASI Trust fundadministered by the Social Security Administration; and
  • Total Public Debt Outstanding, which is the sum of the above components.[2]

As of June 29th, 2011, the Total Public Debt Outstanding of the United States of America was $14.46 trillion and was approximately 98.6% of calendar year 2010's annual gross domestic product (GDP) of $14.66 trillion.[2][3][4] Using 2010 figures, the total debt (96.3% of GDP) ranked 12th highest against other nations.[citation needed]

The federal government's budget deficit should not be confused with the trade deficit, which is the difference between net imports and net exports. State and Local Government Series securities, issued by state and local governments, are not part of the United States government debt.[5] The deficit is presented on a cash rather than an accruals basis, although the accrual deficit provides more information on the longer-term ...

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