Debtor Nation

Transcription

10 Stunning Facts About The United States National Debt If you divide up the national debt equally among all U.S. taxpayers, each taxpayer would owe approximately $134,685. If you add up all forms of debt in the United States (government, business and consumer), it comes to more than 56 trillion dollars. That is more than $683,000 per family. When Ronald Reagan took office, the U.S. national debt was less than 1 trillion dollars. Today, the U.S. national debt is over 17 trillion dollars. It is being projected that the U.S. national debt will surpass 23 trillion dollars in 2015. During 2011, U.S. debt surpassed 100 percent of GDP for the first time ever. During the Obama administration, the U.S. government has accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office. Others estimate that the unfunded liabilities of the U.S. government now total over 117 trillion dollars. The United States government is responsible for more than a third of all the government debt in the entire world. In 1950, each retiree's Social Security benefit was paid for by 16 U.S. workers. According to new data from the U.S. Bureau of Labor Statistics, there are now only 1.75 full-time private sector workers for each person that is receiving Social Security benefits in the United States. If you were alive when Christ was born and you spent one million dollars every single day since that point, you still would not have spent one trillion dollars by now. If right this moment you went out and started spending one dollar every single second, it would take you more than 31,000 years to spend one trillion dollars. But this year alone the U.S. government is going to add more than a trillion dollars to the national debt. A trillion $10 bills, if they were taped end to end, would wrap around the globe more than 380 times. That amount of money would still not be enough to pay off the U.S. national debt. The U.S. national debt is now more than 5000 times larger than it was when the Federal Reserve was created back in 1913.