America’s Debt Crisis Lot Worse Than Reported / $48 Trillion

Posted by Karim Baz

March 2, 2008

Last year total debt increased $3.9 Trillion, 5 times more than GDP.
External debt owed foreign interests increased $1 Trillion;
Household, business and financial sector debt soared 9%.
72% ($35 trillion) of total debt was created since 1990,
a period primarily driven by debt instead of by productive activity.