'Vicious cycle of the US Debt & Deficit' [Money Trail © PressTV]
- Uploaded by Knewtube on Sep 27, 2012
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The Debt and Deficit crisis and the bankruptcy of the US government have given the miserable failure of the government. The total public debt hits $16 trillion or about 103% of GDP. Total public and private debt are between 75 to 125 trillion. About $5.1 trillion or approximately 50% of the public debt is owned by foreign investors, the largest of which are China and Japan at just over $1 trillion each. Politicians (Republicans and Democrats) are playing partisan games while the nation is burning in debt with no light at the end of the abyss.