Yes, it includes intragovernmental debt. Are you implying that we don't have to pay back the debt we borrowed from the Social Security program, that which is promised to others? The Federal Government owes that money to the people it's promised, right?
Claiming it's not "real" debt means that when I take out a loan and guarantee it with money in my savings account, then the loan doesn't count as an outstanding debt. It's a debt and counts. Add up your debts, add up your assets, and you'll find your net worth.
Go to a bank, show them the above, and ask them if they will "ignore" your outstanding debt you backed with existing assets (bank account). They'll laugh you out of the bank. GAAP pretty much requires you to count that debt (of course, the Federal Government chooses to ignore GAAP because it's politically embarrassing - never mind that if you didn't use GAAP for your own tax reporting or public financial disclosure the same Federal Government will prosecute you and toss you into Federal PMITA Prison).0
In the case of the US Federal Government revenues, our debts piled up a little over $1 trillion more than our assets last year - and always piled up more than revenues, during the Clinton years.
Citation needed. I hear this a lot but never seem to hear any evidence of it.
The US used to have a maximum tax rate of over 90%, but fewer millionaires left the country than now when the tax rates are historically very low.
Deductions from income allowed the average person to pay, in inflation adjusted dollars, less than HALF of what they pay today in taxes. Sure, it was nominally a higher rate - but the Federal Government received a little less than half the dollars, per capita, than it did back in those days. Elimination of deductions, constant lowering of income brackets, addition of additional taxes all add up to more than doubling the Federal Government's revenue. Even with a nominally lower tax rate.
The adjusted (not raw) warming data clearly indicates that rate of temperature of last 50 years is far higher than any other period in history
FTFY.
A LISP programmer knows the value of everything, but the cost of nothing. -- Alan Perlis