How much is your portion of the U.S. debt?

[kwilliams1130]

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

Posted Nov 15th 2009 3:15PM by Kevin Kersten

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?

[sati769leigh]

Nov. 17, 2009 at 8:09 AM

Good morning to you! i was wondering what today's topics would be from you. LOL honestly. been refreshing every so often so what you have in store for us today.

I often do not agree with you. but I am always interested in what topic you have to bring to the table.

[kwilliams1130]

Nov. 17, 2009 at 10:40 AM

LOL.  I try to keep it interesting and informative.

(Original Poster)

[sati769leigh]

Nov. 17, 2009 at 7:13 PM

you certainly achieve that, even if i dont agree with your "facts" on things sometimes! LOL