USA DEBT - $31.5 trillion and rising

USA DEBT -  $31.5 trillion and rising

What does the government do to manage the debt, inflation, taxation and theft!

Wow! $31.5 trillion! That’s the current size of the US federal debt. Putting it another way, it’s more than $94,000 per US citizen. Or, another way, it’s the same as the combined economies of China, Germany, Japan and the UK, according to the US Peterson Foundation. The foundation helpfully adds that if every US household paid $1,000 a month it would take more than 19 years to eliminate the debt. Interest payments on this debt cost more than $1 billion a day.





America is running on fumes – the only significant question is how long before the engine stutters and packs up. Certainly, not all debt is bad, either individually or nationally. Taking on debt to buy a home, to get education, to grow a business, can all be sensible decisions and can help grow the national economy. But borrowing to buy assets that lose value over time, such as a car, is not such a great idea, unless you can get a no or very low interest rate.




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