Your portion of the US national debt

[AreaCode707]

http://www.bloggingstocks.com/2009/11/15/how-much-is-your-portion-of-the-u-s-debt/

With congress set to raise the limit on the national debt, let's take a look at just how much money that is.

With a total statutory debt limit of $12.1 trillion ($12,100,000,000,000) and the U.S. population at 304 million (304,000,000), the debt per American is $39,800.
The U.S. debt is the total amount of money the government has borrowed (from its people and foreigners) in order to pay for past government spending. Some of the money has been invested in infrastructure like roads and education, while the rest has gone into political pork barrel projects, subsidies or social causes.

One way to think about the $39,000 is that it is the amount that the U.S. government has been charged on its credit card. If it is able to make more than the minimum payments with increased tax revenue and thus reduce its overall debt, then borrowing can be a good thing. But if it is unable, then the payments become a heavy burden on the government and the next generation.

Are you ready to pay your portion off?

I'm surprised that the portion is as low per person as it is. If you could have your debt assigned to your name, including the interest, would you want to do so so you could pay on it personally? I think I would if I had the choice. As big a number as that is, it's a lot more approachable than x trillion and there's a more immediate feel of responsibility.

 

[Modelworks]

Now look at the debt per taxpayer. Children can't pay and neither can the disabled, unemployed, etc.

http://www.usdebtclock.org/

$110,472 .00 per taxpayer
$344,729.00 per person in liabilities and that is without the health care bill.