14 Facts About The Federal Deficit That Will Blow Your Mind
by Ariel Goldring
The Business Insider lays it out, again:
1.) As of December 1st, 2009, the official debt of the United States government was approximately 12.1 trillion dollars.
2.) To pay this 12.1 trillion dollar debt would require approximately $40,000 from every single person living in the United States.
3.) The $1.9 trillion cap increase recently passed by the House amounts to another $6,000 for every living American.
4.) The U.S. government’s debt ceiling has been raised six times since the beginning of 2006.
5.) If we spent a dollar a second, it would take more than 31,000 years to spend a trillion dollars.
6.) When Ronald Reagan took office, the U.S. national debt was only about 1 trillion dollars.
7.) The U.S. national debt has more than doubled since the year 2000.
8.) Barack Obama’s latest budget anticipates $5.08 trillion in deficits over the next 5 years.
9.) The U.S. national debt on January 1st, 1791 was just $75 million dollars. Today, the U.S. national debt rises by that amount about once an hour.
10.) The U.S. national debt rises at an average of approximately $3.8 billion per day.
11.) In 2010, the U.S. government is projected to issue almost as much new debt as the rest of the governments of the world combined.
12.) The majority of U.S. debt is purchased by the Federal Reserve. Talk about a Ponzi scheme!
13.) A trillion $10 bills, if they were taped end to end, would wrap around the globe more than 380 times. That’s still less than the national debt.
14.) Counting social security and medicare, the U.S. government is committed to future payment in excess of 65 TRILLION dollars.
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