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…