The spiraling US government debt is apparently much higher than the official figure of $22 trillion. The indebtedness of the American financial system has now reached $72 trillion, according to the numbers compiled by the US Fed.
The US national debt has climbed above $22 trillion. It is projected to continue rising by a trillion each year over the next decade, due to the cost of pensions and medical care for the retiring Baby Boomers.
A $2.4 million daydreaming study and a very scientific examination of the sex habits of coked-up quails topped Senator Rand Paul’s annual list of maddening government waste, which this year clocked in at $114 million.
The two biggest foreign holders of America’s sovereign debt pared their holdings in October, according to the latest data released by the US Treasury Department. Foreign holdings of US Treasuries have fallen to a one year low.