makeasnek to News@lemmy.worldEnglish · 10 months agoFed Chair Jerome Powell on 60 Minutes: The US is on an unsustainable economic pathyoutu.beexternal-linkmessage-square31fedilinkarrow-up157arrow-down119cross-posted to: economicsbitcoin
arrow-up138arrow-down1external-linkFed Chair Jerome Powell on 60 Minutes: The US is on an unsustainable economic pathyoutu.bemakeasnek to News@lemmy.worldEnglish · 10 months agomessage-square31fedilinkcross-posted to: economicsbitcoin
minus-squaremakeasnekOPlinkfedilinkEnglisharrow-up2arrow-down1·10 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-squarestratosfear@lemmy.sdf.orglinkfedilinkarrow-up2arrow-down2·10 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