Sidetalk

 Link to March 2008 Public Debt Balance Sheet:  publicdebtbalsheet0308

Here are the current and recent historical totals: 

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None other than Barclays Capital warned Tuesday that roughly half of all subprime and Alt-A borrowers in the U.S. could soon owe more than their house is worth, or have extremely minimal equity left — a problem that is imperiling more homeowners in the States than mortgage rate resets, which have received far greater press coverage.  Continued price declines are likely to put as much as $800 billion worth of debt at risk. http://www.housingwire.com/2008/04/29/barclays-issues-warning-on-underwater-borrowers/

According to the Associated Press, Defense Secretary Robert Gates said Tuesday that sending a second U.S. aircraft carrier to the Persian Gulf could serve as a “reminder” to Iran, but he said it’s not an escalation of force. Asked if the carrier move went hand in hand with the rising U.S. rhetoric against Iran, Gates said, “I don’t see it as an escalation. I think it could be seen, though, as a reminder.”

In the past, military officials have said that beefing up the Navy’s presence in the Gulf was a way to show that that the U.S. remains committed to the region. And they have acknowledged it also serves as a show of force for other countries there, such as Iran. In recent weeks, U.S. officials have ratcheted up their complaints that Iran is increasing its efforts to supply weapons and training to militants in Iraq.

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