(From Hsinhua, )
The total debt in the US has now passed one trillion dollars for the first time, reports the March llth. issue of US News and World Report.This includes al?” the money owned by individuals, bucinesses, the Federal Govermment, State and / local governments. The journal says that the federal debt is near 305 billion dollars, State and local government debt is 72 billions... Corporations owe 331 billions, All this debt is rising. Personal debt, too, keeps risitig, mortgages alone total 211 billions, "The debt trend is being watched," writes the journal. ‘What happens if the country, sometime in the future, suffers a severe and prolonged tisiness setback 7"