Thursday, September 06, 2007

National Debt
for the first time in U.S. history last Friday, the national debt hit an all-time high of $9 trillion. To be exact, the total liabilities of the U.S. Government hit $9,005,648,561,262.70, according to the Bureau of the Public Debt at the Treasury Department.
Mr. Bush often boasts about his commitment to fiscal restraint, and trumpets his efforts to bring down the annual federal deficit from its all-time high of $413 billion in 2004. The Administration forecasts a deficit this year of $205 billion. The forecast from the Congressional Budget Office is lower still at $158 billion.
But Mr. Bush almost never mentions the national debt. On the day he took office, the debt stood at $5.727 trillion. That means it has increased by 57 percent on his watch. So far.
And it’s not just the size of the debt that’s historic. So too is the amount taxpayers must pay annually in interest payments on $9 trillion in borrowed funds. Last year, the interest on the debt exceeded $405 billion dollars. This year’s interest payments will be even greater.

Since there are about 300,000,000 (300 million) people in the U.S., per person that comes to about
$30,000 for the national debt
$ 683 for the expected deficit
$ 1350 for the interest last year

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