Well, then, how about our armed forces? The Department of Defense is the largest single employer in the world, and the United States spends more on national defense than the next nine nations on the list, including China and Russia, combined. Stellar public schools? A superb health care system? A New Athens on a shining hill? Nope, nope, and nope. Which brings us to this question: What do we have to show for it? What tangible objects have we gained from these massive expenditures? The difference between the two is that those individuals will sooner or later find themselves out of resources with their credit flatter than a new dollar bill while the government just keeps on printing out bogus bucks by the barrel. Our federal officials, elected and otherwise, are like the folks who keep getting and using new credit cards to pay off other maxed-out credit cards. That ocean of agencies you see is a major reason the debt clock is spinning away.įor years, our federal government has blown through more money than we can ever pay back, and it keeps right on borrowing and spending. Government Departments and Agencies,” then tap on a few of the alphabetized letters. Want to see a sight nearly as startling as the National Debt Clock? Click on the site “A-Z Index of U.S. Meanwhile, roughly 40 million Americans are living on food stamps and in poverty. Today, houses sell for a median price of $428,700, but went for $165,300 only 20 years ago. This sounds impressive until you factor in inflation and housing costs. The debt clock does show that the net worth of 22 million Americans is now more than a million dollars. Treasury Data Lab’s “ Visualizing Federal Government Debt.” The information is a bit older, but each of those 28,429 dots you see represents a billion dollars. For a different but equally painful take, go to the U.S. Click on the National Debt Clock site, and prepare to have your eyeballs hurt as you watch the numbers racing upward in real time. The debt per actual taxpayer is about $245,000. National Debt Clock, that means that every citizen is in debt for approximately $92,000. The United States of America is over $30 trillion in debt, give or take some hundreds of billions of dollars.Īs shown by the U.S.
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March 2023
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