Debt charts differ. The blue line counts only treasury bills. ("Held by public" is misleading because it includes the funded part of social security which one part of government owes to another part.)
The red line adds unfunded medical and social security liabilities. (The downgrade of US debt from Egan-Jones used the red line data.)
The US is also on the hook for programs linked to the bailout. The OMB estimate of $59.1 trillion unfunded liability assumes the government is correctly forecasting future revenues. Another colored line about a third higher would be meaningful too.
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| OMB chart, posted in John Mauldin's newsletter. |
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