@[email protected] to NewsEnglish • 10 months agoFed Chair Jerome Powell on 60 Minutes: The US is on an unsustainable economic pathyoutu.beexternal-linkmessage-square36fedilinkarrow-up153arrow-down119cross-posted to: [email protected][email protected]
arrow-up134arrow-down1external-linkFed Chair Jerome Powell on 60 Minutes: The US is on an unsustainable economic pathyoutu.be@[email protected] to NewsEnglish • 10 months agomessage-square36fedilinkcross-posted to: [email protected][email protected]
minus-square@[email protected]OPlinkfedilinkEnglish1•10 months agoI believe this is where it’s from. If you look up similar charts you’ll see similar data. Most debt is publicly owned in the form of bonds, treasury notes, etc https://econofact.org/why-is-the-u-s-debt-expected-to-keep-growing
minus-square@[email protected]linkfedilink0•10 months agoShort answer, I misunderstood. “Debt held by the public” sounds like my credit card debt, but it’s not. That is (obvious now) private debt. https://www.crfb.org/papers/qa-gross-debt-versus-debt-held-public https://research.stlouisfed.org/publications/page1-econ/2020/03/02/making-sense-of-private-debt
I believe this is where it’s from. If you look up similar charts you’ll see similar data. Most debt is publicly owned in the form of bonds, treasury notes, etc https://econofact.org/why-is-the-u-s-debt-expected-to-keep-growing
Short answer, I misunderstood. “Debt held by the public” sounds like my credit card debt, but it’s not. That is (obvious now) private debt.
https://www.crfb.org/papers/qa-gross-debt-versus-debt-held-public
https://research.stlouisfed.org/publications/page1-econ/2020/03/02/making-sense-of-private-debt