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New Study Shows US Debt 6 Times Greater Than Officially Declared. Its Not $12 Trillion, Its $70 Trillion

Tuesday, August 6, 2013 6:17

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The United States has accumulated over $70 trillion in unreported debt, an amount nearly six times the declared figure, according to a new study by University of California-San Diego economics Professor James Hamilton.

The unique aspect of Hamilton’s study is that he examines federal debt that has not been publicly released, specifically the federal government’s support for “housing, other loan guarantees, deposit insurance, actions taken by the Federal Reserve, and government trust funds.”

DEBT TICKER HERE

I have no doubt that our actual debt is far worse than reported. The government lies and I don’t say that in passing or stereotype, it’s a matter of fact and very much so in the news. They lie, they lie, they lie. I dont trust a word they say. When this bubble bursts, its going to take everyone down with it. -Mort

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