Where does the water go?

I was talking about the loss of ice pack in the Himalayas, and in the Greenland Ice Sheet, and how their shrinkage is likely to be as disruptive to daily life as climate change, and my astute friend Angelo asked a simple question for which I don't, today, have a good answer.

"Where does the water go?"

If it's not in in groundwater, and it's not in frozen freshwater, where is it? The ocean is the obvious answer, but if the losses are so significant, wouldn't that would be observable in sea levels? 

We hear about that issue as another potential peril, but not as imminent as the loss of groundwater. Anyone have expertise or perspective to share?


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