Now do total debt: government + corporate + household
Then add unfunded liabilities like pension benefits and healthcare promises for every federal, state and local government, school district and corporation.
A trillion of credit card debt is something like one half of one percent of total indebtedness.
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Now do total debt: government + corporate + household
Then add unfunded liabilities like pension benefits and healthcare promises for every federal, state and local government, school district and corporation.
A trillion of credit card debt is something like one half of one percent of total indebtedness.
exactly. it is just $4K/person. Whereis current US national debt is $120K/person.
The US doesn't default on his interest payments. The US consumer on the other hand....
The US has defaulted on its interest payments several times.
Regardless, this article is about one of those nearing record levels.
But beware the trap: total debt = total savings