An investigation published this week by the Milwaukee Journal Sentinel found these local retirement obligations total $6.5 billion over the coming generation, with $4.7 billion of that in Milwaukee County alone.
Historically low interest rates have encouraged Canadians to take on more debt, with household debt as a share of income reaching a record high 167.6 percent in the second quarter.
The nation's third-largest public school system has $6.8 billion of general obligation bonds outstanding. The Chicago Public Schools (CPS) is struggling with escalating pension payments that will jump to about $720 million this fiscal year from $676 million in fiscal 2016, as well as drained reserves and debt dependency.
"The amount of commercial and multifamily mortgage debt outstanding grew to a new record during the second quarter, despite a record drop in the balance of CMBS loans outstanding," said Jamie Woodwell, MBA's Vice President of Commercial Real Estate Research.
While states have about $2.4 trillion in debt, they also have about $1 trillion to pay towards that amount, leaving about $1.3 trillion owed. When divided up among U.S. taxpayers, the debt shouldered by each is taxpayer is $13,514.
Global debt, across the household, government, financial and non-financial corporate sectors, rose by more than $10 trillion in the first half of 2016, surpassing $216 trillion, or 327 percent of global GDP.
The central bank will seek to buy notes issued by companies including General Electric Co., United Utilities Group Plc and Rio Tinto Plc, according to a list distributed last week. Purchases will be made through reverse auctions starting at 11 a.m. in London.
Mr Draghi told MEPs: "We have to accept the fact that low interest rates are a symptom of low growth." He added: "it's true that savers are being penalised by the current system and we are fully aware of that.. But whoever borrows money is benefitting."
Persian Gulf states have been issuing bonds at their fastest pace ever this year, raising cash to replace lost oil revenues
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