U.S. Household Net Worth Up 4%, Debt Down Nashville Real Estate
The Fed also reports on the increasing levels of Government debt. State and Local Government debt rose 8% at an annual rate during the fourth quarter, and increased 5.5% in the third quarter of 2010. Federal Government debt rose 14.5% for the fourth quarter and 20% for all of 2010. Total outstanding public debt is now at $14.1 trillion with a debt ceiling set by Congress of $14.2 trillion. Before the hopes of a recovery are lost, we should reduced the current levels of government spending and debt.