How much do you owe

It has been about a year since I laid out country’s deficit and explained the size. Well it has gotten bigger in the last year. You should know how much you owe. Many people think the government debt is not their problem, but who does the government of the United States represent? YOU!

The U.S. Government continues to spend money it doesn’t have and barrow more money. How much is enough? How many people in the US? How much does each person in this country owe the government to pay off our debt? Well if you have children you owe more. Before I answer, think about just your personal finances.

How much debt would you need to have be before you felt you had too much? $10,000? $20,0000? $30,000? They all seem like a lot. I’m not talking about your mortgage that is at least a loan on something of value. What if you had $50,000 in credit card debt? Would you be nervous? That is money you would owe for past spending where you probably have nothing of any value to show for the spending.

The U.S has a debt of over $12.5 trillion. A trillion just sounds like another number. Well here is what it looks like. $12,500,000,000,000. There are about 308 million people in the country. If you have a family of 4 your share is about $120,000. That’s right. Each person owes the government about $40,000. How many people in the country could actually pay that with their next tax return to wipe out the debt? Probably less then 1% of the people. Do you still think we need to spend more money? Do you think we need to barrow more money?

Its time we get rid of life long politicians and put in some people with common sense.