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What Does the National Debt Mean to You? About $22G

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posted on Mar, 26 2009 @ 06:58 AM
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What Does the National Debt Mean to You? About $22G


www.foxnews.com

$22,000 represents the share of the public debt carried by anybody born in the United States today, according to the fiscal watchdog group, The Concord Coalition.

That figure -- about the price of a new Camaro -- represents the share of the public debt carried by anybody born in the United States today, according to the fiscal watchdog group The Concord Coalition.

The total national debt, as of this week, is above $11 trillion.

Gordon arrived at a per-person figure based only on the amount of debt held by the public, or $6.7 trillion. The price tag? $22,000 a head.

While Republicans argue that looming additions to the debt amount to generational theft, Obama says deficit spending, and his $3.6 trillion budget for next year, is needed to jump-start the economy and generate lasting financial stability.

Dean Baker, co-director at the Center for Economic and Policy Research, also said the size of the economy will play a bigger role than the debt in the quality of life for future generations. Plus he said a lot of that debt is picked up by buyers in the U.S. -- not just overseas.

(visit the link for the full news article)




posted on Mar, 26 2009 @ 06:58 AM
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So, now, in the US, children are born with debt looming over their heads. :shk:

And, while this is nothing new, the article goes on to say that within 10 years, a child born today will be "responsible" for $51,000.00 of the national debt. It just keeps getting bigger and bigger and bigger.

When is DC going to start acting like most of the country? When are they going to learn that you can't live above your means? When are they going to learn that you can't spend money you don't have? When are they going to learn that you have to save for a rainy day?

www.foxnews.com
(visit the link for the full news article)



posted on Mar, 26 2009 @ 07:50 AM
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Those are very conservative numbers because he doesnt include the $40 trillion dollars in obligations to Social Security and Medicaid. Its actually more like $100+K per every man woman and child.



posted on Mar, 26 2009 @ 07:54 AM
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And this is without counting the inflation tax, the coming carbon taxes, the falling currency and of course the coming increased debt... even the government itself says that the national debt will increase by about 10 trillion in the next years.

So make that 44.000$ +++ by person within 5 years.



posted on Mar, 26 2009 @ 07:55 AM
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Well unfortunately DC will NEVER act like the rest of the country, regardless if Dems or Repubs are in control. I really believe they are too far gone to ever be grounded again in common sense. One group is just a faster path to destruction. Sorry for being so cynical.



posted on Mar, 26 2009 @ 07:56 AM
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reply to post by jjkenobi
 


I don't think you are being cynical. I think you are being realistic.

And, I agree that the numbers in the article are conservative. No one is paying attention, though. Well, a small group of people are, but the vast majority can't be bothered. :shk:



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