posted on Dec, 24 2005 @ 09:30 PM
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.