It shows that the U.S National debt is north of 15 Trillion which we all know.
BUT, the U.S. TOTAL debt is almost 54 and a half Trillion dollars! What are they talking about and what is going on here?
I believe you are asking about the difference in the national debt and the national deficit. Debt is the total amount owed by the federal government. The deficit is the amount per year the federal government is out-spending its income. The total debt is 15 trillio. The vast majority of our debt comes from domestic lenders like the Federal Reserve, state governments, private and cooperate companies. We owe less than a quarter of it to foreign governments. Japan holds the largest chunk of our foreign debt followed be China.
Now you know, and knowing is half the battle. G I Joooooe!
Sorry, I miss spoke. Read the stuff in the above quote. It is correct. I had abrain fart. The 54 is global debt.
