Citizen Gmt
strong>Citizen Gmt
How will your government repay your national dept?
The Outstanding Public Debt as of 05 Apr 2007 at 04:48:31 AM GMT is: $8,871,307,203,199.00
The estimated population of the United States is 301,353,774
so each citizen's share of this debt is $29,438.18.
The National Debt has continued to increase an average of
$1.95 billion per day since September 29, 2006!
What services are you willing to go without when your governmemnt has to reduce the national Debt?
http://www.npr.org/templates/story/story...
http://www.brillig.com/debt_clock/...
Too often when this question in posed there is no consideration for the tax revenues per person this nation brings in. If your total debt were only 4.5 times the amount of money you made in a year, how concerned would you be? If you are going to point out that every citizen has almost $30k shared in debt from the government then you need to also point out every citizen is responsible for producing over $6k in annual revenue to the government.
Its always amusing how often some people will say the sky is falling in reference to the size of the debt yet owe more than 4.5 times of debt on their own homes than they make per year. (and I don't mean anyone here in specific, but there are plenty of those out there who totally miss this irony).
Lets get some relativity. Lets also not forget that if the budget was just balanced time would gradually make the debt slowly go away as not only do we have a steady growing economy and increasing revenues we also have inflation making the debt owed less and less burdensome as long as its not continually growing.
The real issue is neither major party is interested in cutting back on enough expenses to maintain a balance budget, and i don't mean raising taxes, i mean controlling spending.
This country is like the family who lives above their means and supports themselves by getting more and more credit cards, and instead of trying to control some of their unneeded spending, they look for more part time jobs to pay make their minimum payments on their credit cards. For shame.
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US $130.01
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