The national debt stands at 12.6 trillion(plus interest)give or take.
The deficit for fiscal year 2010 is estimated to be just under $2,000,000,000,000 (yep, that's trillions, folks.
300,000,000 citizen plus corporations will take on this national debt, IN ADDITION to their own private debts.
If only the citizens took on this debt (plus interest) than we are all individually on the hook for some 6,666.00 (plus interest) so that if it was payable even in the next two to three years, something like 10,000 dollars per citizen, just for this years' deficit.
To Pay the entire debt, well multiply by 6 and you will get somewhere between 45 and 60 thousand dollars per citizen, depending upon how long you think it will take to pay off the debt with interest. $60,000.00 for every grandmother, grandfather, child, mother, father, brother and sister. Many of these citizens do not have an income, so the burden is really taken on by taxpaying citizens and corporations. This is in addition to all personal debts for autos, homes, student loans, credit cards, etc...
As a country, we are close to bankruptcy, both personally and collectively. Any way you look at it the math sucks.
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