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August 12, 2013

$70 Trillion

Topics: Political News and commentaries

Once again, that's a whopping $70 trillion

That's how much James Hamilton, an economics professor at the University of California, San Diego, concludes that the real national debt actually is.

Although the popularly estimated national debt is said to be $16.9 trillion, according to Hamilton's just-completed study, it's in fact more than four times larger. This is because of decisions to leave out certain unfunded liabilities when the national debt is counted.

Much more on this here.

Posted by Hyscience at August 12, 2013 5:49 PM

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