Governement Spending and Debt Statistics

A USA TODAY analysis found that the nation's hidden debt — Americans' obligation today as taxpayers — is more than five times the $9.5 trillion they owe on mortgages, car loans, credit cards and other personal debt.

This hidden debt equals $473,456 per household, dwarfing the $84,454 each household owes in personal debt.

The $53 trillion is what federal, state and local governments need immediately — stashed away, earning interest, beyond the $3 trillion in taxes collected last year — to repay debts and honor future benefits promised under Medicare, Social Security and government pensions. And like an unpaid credit card balance accumulating interest, the problem grows by more than $1 trillion every year that action to pay down the debt is delayed.


Howz that for debt, Well done guys, really looking after your country.

It's the American way. I guess we got it figured out, it's not what something costs..it's how much you can get the payments down to.

However, welcome to our world UK. It seems the Britons are catching up with us on the credit card use.

www.usatoday.com...

The Outstanding Public Debt as of 31 Dec 2005 at 01:18:22 PM GMT is:


Its not just the US, I have been looking into a theory that Western capitalism is about to collaspe...very,very soon.