With congress set to raise the limit on the national debt, let's take a look at just how much money that is.
With a total statutory debt limit of $12.1 trillion ($12,100,000,000,000) and the U.S. population at 304 million (304,000,000), the debt per American is $39,800.
One way to think about the $39,000 is that it is the amount that the U.S. government has been charged on its credit card. If it is able to make more than the minimum payments with increased tax revenue and thus reduce its overall debt, then borrowing can be a good thing. But if it is unable, then the payments become a heavy burden on the government and the next generation.
Are you ready to pay your portion off?











Reader Comments (Page 1 of 3)
11-15-2009 @ 4:17PM
Bill G said...
Look at www.usdebtclock.com--it is really $344,000 if you include unfunded liabilities
11-15-2009 @ 5:26PM
araxara said...
Actually US Debt Clock is at http://www.usdebtclock.org/
11-15-2009 @ 9:35PM
Peter Van Schaik said...
Too many focus on the debt of the Federal Government while the real elephant in the room goes practically unnoticed. The total debt of the non-financial sectors is the debt that will break us if anything does. In June 2009 it was 2.4 times the GDP and $112,000 per capita. Over most of US history if the federal debt was expanding, non-federal debt was contracting and if the non-federal debt was expanding, the federal debt was shrinking. But, starting in the mid 1970's, things changed. Since then both sectors have been on borrowing binges and we have yet to pay the full price of our folly. http://jpetervanschaik.googlepages.com
11-16-2009 @ 2:25PM
jstill9584 said...
When the government decided to bail our banks and other business' out with the trillions of dollars, they should have given every adult (21 yrs & older) US citizen, one million dollars, the American people would have bailed the banks out by paying off their loans, buying new cars, and it would certainly cost us less money.
11-16-2009 @ 2:43PM
Christine said...
pffft...I don't owe anything.
11-16-2009 @ 2:43PM
darseign said...
Grab me my check book! It won't be the first time I've paid for something I never purchased!
11-16-2009 @ 2:49PM
ginotortelli said...
Just tell me where to send my check. Then, maybe we can all get on with the business of keeping this nation afloat. I'm just sick and tired of everyone being at everyone else's throat. This country is being run like an HOA. I listen to the news all day about the problems with MY country and then come home to the latest news about how my HOA is trying to mess with me. I'd gladly pay just about ANY amount to have a little peace in my life.
11-16-2009 @ 3:20PM
Dave B said...
... If i get a bill, i will just send it back. I have had to endure more financial crap than financial prosperity anyway. I have been laid off 18 times in my career, and don't expect it to end. Now the government wants money?
11-16-2009 @ 3:37PM
rats60 said...
We don't owe anything. They need to send bills to those who overspent, Congressmen and Presidents. Most of them can certainly afford to pay what they owe. Why should we be responsible for their ineptitude?
11-16-2009 @ 3:36PM
faith said...
Hogwash. I don't owe them nothing.
11-16-2009 @ 3:52PM
TT said...
Excuse me, but even if I could pay that $39,000+, wouldn't it be in constantly devalued dollars?
11-16-2009 @ 4:04PM
vhgrammy said...
I always pay my bills however, this won't be one of them
11-16-2009 @ 5:09PM
Robb said...
Those of you who voted for Comrade Obama, get in the position of bending over and grabbing your toes 'cause he is going to show you where the wild goose goes....that is, those of you who actually work for a living.
11-16-2009 @ 4:16PM
mckenz707 said...
I WON'T PAY THEM ONE "RED"CENT.
11-16-2009 @ 4:20PM
mewhorter said...
Sorry, the link didn't post properly. You need to put ftc-vi26.wmv in your search and select the video with Lou Dobbs regarding the proposed Immigration/Amnesty Bill. This is just incredible. Hope you're sitting down.
11-16-2009 @ 4:52PM
peterhailey said...
If you think things are bad now, wait untill the dollar is worthless and foriegn governments begain demanding payment for our food imports in gold.
11-16-2009 @ 4:30PM
Xoolboy said...
Maybe they should empty the prisons and use the deathrow imates as suicide bombers,...give the terrorist a taste of there own medicine. That should say a few hundred thousand a year. Then they can save alot of money by going through the welfare system with a fine tooth comb, and kicking all the deadbeats off the system and only leae the ones who truley need it. They can also put a restriction on how many kids a woman can have...kids according to your ability to afford them. They should also make Senators like Arlene Specter retire and stop getting cancer treatments on tax payers dime. They should also make public/ elected officials pay for health care...or atleast their families.....also stop the secret service protection for any president and family who has ben out of office for more than 10 years....What the hell are we still protecting Nancy Reagan for?
11-16-2009 @ 4:27PM
dollibug said...
ALL AMERICANS who voted for O need to pay the bill now.....this is the CHANGE THAT YOU VOTED FOR...
Sorry I do not owe....because I did not vote for him...
Perhaps next time....you might just stop and take time to access things a bit in a different way....
11-16-2009 @ 4:34PM
personman said...
As long as we're choosing things that we ought to pay back the government for, can I not pay for any of the Iraq war or the mismanaged rebuilding of New Orleans after Katrina? Those are the gifts that keep on giving. Far much more spent on that than on anything Obama has done yet.
11-16-2009 @ 5:06PM
craigwied2aol.com said...
Forget the Government. They don;t care about me, I don;t care about them