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Posted: 7/25/2013 2:56:10 PM EST
The Detroit government has between $17b and $20b in debt and unfunded liabilities, and a population of 706k, resulting in a $24,000 per-capita debt.

The US federal government has $60t in debt and unfunded liabilities, and a population of 314m, resulting in a $190,000 per-capita debt.

That's 789%.

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If you ignore the "unfunded liabilities", the US federal debt is only $16.8t, or $53,700 per-capita.

223%.
Link Posted: 7/25/2013 3:01:32 PM EST
Yes but the feds can keep printing money Detroit cannot.
Link Posted: 7/25/2013 3:02:53 PM EST
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Originally Posted By RogueSpear2023:
Yes but the feds can keep printing money Detroit cannot.
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Only sort of.

Very sort of.
Link Posted: 7/25/2013 3:04:34 PM EST
[Last Edit: 7/25/2013 3:06:33 PM EST by Gator]



ETA: We're seriously fucked, most just don't know it yet. Helicopter Ben and his successor will just keep amping up the patient on more and more morphine until the patient dies a sudden (and ugly) death.
Link Posted: 7/25/2013 3:05:08 PM EST
Party on Garth.
Link Posted: 7/25/2013 3:05:30 PM EST
Which is why economists the world over (who do not have a political agenda) have said that the US is technically insolvent.

We are living on borrowed time...
Link Posted: 7/25/2013 3:15:51 PM EST
[Last Edit: 7/25/2013 3:17:06 PM EST by Dace]
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