USD 2 TRILLION !
Bear in mind that the figures:
1. exclude state debts.
2. do not take into account unfunded obligations such as Fannie Mae and Freddie Mac obligations, and mandatory payments for programs such as Medicare, Medicaid and Social Security (present value of these obligations are estimated to be in the region of $100 trillion)
Mainstream will soon realise that US trouble is deeper than Europe's.
People have to realise that the world economy is suffering because they are trying to PROP UP the US, not because US demand goes down. To think that the world relies on US consumption is one of the BIGGEST fallacies of modern-day economics.
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