Per-capita debt; Detroit.gov vs US.gov

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[ARCHIVED THREAD] - Per-capita debt; Detroit.gov vs US.gov

Posted: 7/25/2013 3:56:10 PM EDT

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%.

Posted: 7/25/2013 4:01:32 PM EDT

[#1]

Yes but the feds can keep printing money Detroit cannot.

Posted: 7/25/2013 4:02:53 PM EDT

[#2]

Quote History

Quoted:
Yes but the feds can keep printing money Detroit cannot.

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Only sort of.

Very sort of.

Posted: 7/25/2013 4:04:34 PM EDT

[#3]

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.

Posted: 7/25/2013 4:05:08 PM EDT

[#4]

Party on Garth.

Posted: 7/25/2013 4:05:30 PM EDT

[#5]

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...

Posted: 7/25/2013 4:15:51 PM EDT

[#6]

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[ARCHIVED THREAD] - Per-capita debt; Detroit.gov vs US.gov

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