Do You Have $110,561 to Pay Your Share?
There’s an interesting article at CNN.com about the staggering amount of money that we’re going to have to pay just to cover the interest on our national debt. The article can be read HERE.
They estimate that in 2015, the interest payment alone on our debt will be $533 billion, approximately 1/3 of federal income tax receipts for that year.
As of the time of this posting, the national debt per citizen is $39,007. The debt per taxpayer is $110,561 – and that’s going to skyrocket in the next few years.
The Concord Coalition has a pretty cool game you can play where you choose what programs and taxes to add/cut. It then shows the end result on the deficit. Try it HERE. It’s essentially a lost cause, no matter what you do.
It’s very sad to see this happening to America. The only way this debt is going to ever be paid back is if it’s taken out of our pockets. I for one, don’t have $110k laying around to pay my share…
Tags: U.S. Debt
Friday, November 20th, 2009 at 2:07 pm • Economics, General, Politics • RSS 2.0 feed • leave a response or trackback
Can I file for bankruptcy for this?
If that were possible we would all be in court. *resisting the soap box* LOL