Well then $200 billion more isn’t going to make much difference is it?
US GDP is $25 trillion a year. And the US assets are probably vastly understated. Especially if they are carried at purchase price.
So think of the excess debt like a mortgage. $66 Trillion (mortgage) / $25 Trillion (Income) = 2.64. So it’s like a household that has a $100,000 income having a mortgage of $264,000.
It’s high, but it’s not the end of the world.
“The total value of ALL companies listed on the US stock market is $53 trillion. The real value is much lower because the US has been printing trillions to provide interest free loans to investment banks to pump up the stock market. It’s a scam.
Most of the $53 trillion is air.”
“The value of all US assets combined, every piece of land, real estate, all savings, all companies, everything that all citizens, businesses, entities and the state own is worth $193 trillion.
That number is also full of air just like the US stock market.”
I am quoting from Kim Dotcom. If you choose to believe him then you will realize we, that is the US, are broke. If you choose not to believe him then perhaps we can keep on spending for forever wars.
Most households pay down their mortgages.