What's in a number anyway? Faber says the FED balance sheet is over $3 trillion. However, the US government owes about $14 trillion, thusly, putting the total US government balance sheet at $14 trillion number. Does it include the FED's balance sheet? Actually, I don't know right now.
But, I can report what the legendary fixed income guru - Bill Gross; PIMCO, estimates. He puts total US government debt at a figure of over $100 trillion. His number also includes all future payments and contingencies on a present value basis. Put another way, this is the value of all known oil reserves that are set to exhaust in about 40 years.
Dr Peter G Kinesa
February 20, 2013