-0.8 C
New York
Tuesday, January 14, 2025

A Trillion Here, a Trillion There…

Courtesy of Michael Panzner at Financial Armageddon

A billion here, a billion there, and pretty soon you’re talking real money.
–Attributed to the late Sen. Everett Dirksen

With the kinds of numbers we are seeing nowadays, I reckon the good ole Republican Senator from Illinois might have been known for a slightly different quip if he had lived for another 40 years or so:

Consumer credit outstanding: $2.4 trillion

Mortgage debt outstanding: $10.6 trillion

Federal debt outstanding: $14 trillion

Commercial/multifamily mortgage debt outstanding: $3.2 trillion

Municipal bonds outstanding: $2.8 trillion

Corporate debt (non-financial companies) outstanding: $7.4 trillion

Public pension underfunding: $2.5 trillion

Infrastructure investment needed: $2.2 trillion

U.S. fiscal gap: $202 trillion

Not so funny anymore, however. 

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Stay Connected

156,244FansLike
396,312FollowersFollow
2,340SubscribersSubscribe

Latest Articles

0
Would love your thoughts, please comment.x
()
x