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View Full Version : U.S. has record $61.6TRILLION in liabilities - Borrowing $125billion a month




mello
06-07-2011, 04:50 PM
http://www.dailymail.co.uk/news/article-2000558/Record-61-6TRILLION-financial-promises-paid-US-borrow-125bn-month.html

QueenB4Liberty
06-07-2011, 04:54 PM
Wow. That's unreal. So I guess that's never being paid back.

Zippyjuan
06-08-2011, 12:12 PM
If you own a $200k home, you have $200k in liabilities. You have future liabilities for the food and clothes you will buy. Does this mean you have a financial problem? Maybe, maybe not. You (like the government) will also have income in the future along with those liabilities. Your ability to meet those obligations depends on your future revenue stream as well. How big the government libilities are depends on how far into the future you extrapolate your expenses. They can theoretically be infinite. That number is a scary one but it is really a meaningless one by itself. They will not be paid (and are not expected to be paid) out of this year's income alone.