Troubling info on the DebtPosted by on March 13, 2011
I wanted to share with you some startling numbers about America’s fiscal situation:
· The United States is now more than $14 trillion in debt, and very close to surpassing the entire annual value of goods and services produced in this country (GDP is about $14.4 trillion).
· This record-level of debt is equal to $45,500 for EVERY American, and $127,500 for every current taxpayer.
· The federal deficit surpassed $1 trillion each year for the past two years and is estimated to be $1.5 trillion for this year.
· The U.S. borrows 42 cents of every dollar spent.
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