In case you haven’t been following the US Debt recently, here’s a screen shot of the US National Debt Clock
- The US total debt is $66 trillion (!)
- The US national debt is nearly $20 trillion
- The debt per taxpayer is $162,191 — do you have that kind of money lying around to pay off the debt?
- The average personal debt per citizen (over and beyond their tax debt) is $54,249.
- The Federal Budget Deficit + Social Security Liability + Medicare Liability + Unfunded Liabilities = $860,339 per tax payer — do you have that also lying around?
We’re headed for a great fall. The bills will come due. And as Reagan fondly said, we don’t have a revenue problem, we have a spending problem.