Detroit, at the time of its bankruptcy, had debts of over $18 billion, which included a much smaller fraction of pension liabilities - $6.9 billion - but a much larger liability for retiree healthcare, $5.7 - $6.4 billion (the data source, the Huffington Post, doesn't explain why they provide a range rather than a single point liability).
"If we continue with our current patterns of spending above our incomes, by 2013 the U.S. foreign liabilities could be as high as 75percentt of GDP and an increasing fraction of such liabilities will be in the form of equity," he explains.
The debt guarantees, it pointed out, are only "contingent" liabilities: they will land in officials' laps only if bad things happen, and bad things do not always happen.Based on past experience, the NAO believes local governments will have to bear only a fraction of these liabilities: 19% of the explicitly guaranteed debt and less than 15% of the implicit obligations.
A large fraction of Taunus's liabilities, perhaps $294 billion, consisted of short-term dollar borrowing, in the form of uninsured deposits at its essentially unregulated branch and agency network, along with what is known as repo and commercial paper borrowing.
Indeed, Ford's shortfall is only a fraction of General Motors' $21 billion liability.
In addition, our experience is that tax settlements are generally for a fraction of the proposed liability," Volkmann said in a client note.
If $35 billion dollars was the average corporate tax gap and $291 billion the personal tax gap over these years, the non-compliance rate (as a fraction of true tax liability) was 14% for corporate taxes and 23% for personal income taxes.
Finally, the random tank-test-day effects for endurance and the random batch-tank effects for susceptibility explained a relatively small fraction of the underlying liability variances (posterior means of 11%and7%7%, respectively).
So far, only a tiny fraction of the $23 trillion in liabilities in private defined-benefit plans have been protected.
But those initial payments — mostly short-term emergency relief to fishermen, shrimpers and small-business owners — represent only a fraction of BP's total liability.
So far, we've only talked about deductions, but naturally, credits are more valuable since they reduce your tax liability dollar-for-dollar, whereas a deduction will only reduce your tax liability by some fraction of dollar.
