Monday, January 19, 2009
$10,638,425,746,293.80 - US National Debt
I just read an interesting article over at Emerginvest
The US national debt has reach a record $10.6 Trillion dollars with an estimated $1.2 Trillion annual budget deficit to dig the hole deeper. Divided by the nearly 204 Million Americans ages 15-64 that equals a $52,152 bill for each of us growing daily.
The majority of economist (and myself) believe that we must spend our way out of the current recession. Hopefully Keynesian economic theories hold true and greener pastors are ahead for our wonderful nation.
The greatest struggle will not be weathering the current recession; but rather the ability of individuals and our leaders to show fiscal restraint once the US economy rights itself through stimulus. Unless we can master this act we are doing nothing but re-inflating a bubble for future generations to pop with ever greater consequences.
In the meantime looks like $14,000,000,000,000.00 is a number we will all have to attempt to comprehend.