You Owe the Government $516,348

Allow me to veer off the artistic path for a moment…

According to this USA Today article, if we wanted to pay off the Federal Government’s debts right now that’s how much every American household would have to pay. If you don’t happen to have half a million in spare change lying around, how about an installment plan? You could pay $31,000 a year (or $2,580 per month) for 75 years and that would do it.

If you’ve got a lot of credit card debt, you might find some comfort here. You’re spending peanuts compared to the debts the government is racking up for you.

Does this concern anyone else? The next time you hear a politician complain that we aren’t spending enough on this or that program, ask yourself…Isn’t the government spending more than enough already?

I now return you to your regularly scheduled blog.

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4 thoughts on “You Owe the Government $516,348

  1. Our world lives in a time when you buy everything, whether you have the money or not. Instant gradification is the term that comes to mind, and it’s not just the US. We have the same problem in Canada, not only in the government, but in 99% of our households too.

    Thanks for the amazing, if not sad, facts. I totally agree.

  2. Cedric,

    It isn’t a case of, “Isn’t the government spending more than enough already?” but rather maybe you aren’t paying enough in taxes.

    Kinda funny huh?

    Just listen to the next political debate and you’ll hear them promise the moon. And, it’s always for the “children, the under-privilaged” or the “sick and the elderly.”

    If you dare say, “hey, can we afford it?” They’ll label you a miser/heartless.

    The solution is never to fix the problems, because then they can’t come to you for more money.

    I know, it’s kinda cynical of me. But, just look how I ended up. Just skin an’ bones after paying my “fair share.”

  3. This is very concerning. A lot of that debt is purchased by China who could use it to blackmail us away from defending Taiwan when they invade.

  4. What saddens me is that over 150 federal programs have been cut due to the cost of the war. When Bush got to office, one of the programs that I was going to be a part of, and that would have positioned IT professionals in underprivileged schools, to help bridge the technology barrier between richer and poorer schools immediately got cut. I was heartbroken. It would have made such a difference. And there are many more examples of that. I think the money spent so far on the war could have insured over 400 million children or sent 90 million children to Head Start.

    Thea

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