[beagle3]

Just federal government.

Federal US budget is ~$4T$/year, taxes are ~$2.4T, loans taken ("government bonds") are ~$1.6T/year.

Highly recommended: reading Karl Deninnger on "the market ticker" on a daily basis. His style of writing is not for everyone, but the facts are, and it's hard to find them so coherently laid out in other places.

[eru]

Thanks. I'll check it out, if I find time to care about the American economy.