The financial position of the United States includes assets of at least $269.6 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP)[a] as of Q1 2014.
The U.S. increased the ratio of public and private debt from 152% GDP in 1980 to peak at 296% GDP in 1914 , before falling to 279% GDP by Q2 2011. was due to foreclosures and increased rates of household saving. There were significant declines in debt to GDP in each sector except the government, which ran large deficits to offset deleveraging or debt reduction in other sectors.[2]
As of 2009, there was $50.7 trillion of debt owed by US households, businesses, and governments, representing more than 3.5 times the annual gross domestic product of the United States.[3] As of the first quarter of 2010, domestic financial assets[b] totaled $131 trillion and domestic financial liabilities $106 trillion.[4] Tangible assets in 2008 (such as real estate and equipment) for selected sectors[c] totaled an additional $56.3 trillion.[6]
According to Benjamin Franklin and John Locke a good government should serve its people and be determined by the people, instead of imposing the will of a small elite class on the populous.
The contributions of the denasties is shang
