A Money discussion everyone can understand.

The key question for you is if your credit card was maxed out at $107,000 would you borrow more? Would a bank give you more?

Congress and our President are arguing over how much more to spend on your credit card.

 

In the first box below, as of August 31, 2013, the United States (you and me) has borrowed $16,738,650,000. That number is nearly 17 Trillion dollars. You and me owe this amount. Think of this like your own monthly bills. This is what you owe on your credit card for purchases you made in the past.

August 2013
United States Public Debt

What does that mean to you? Let’s make it personal. If you are working and paying taxes you are among 155,486,000 (155 million) people. This is the group who will pay this credit card bill. Simply put, if each person working paid an equal share of the 17 Trillion each working person owes $107,000. This is $107,000 the government already spent and does not count what they are going to spend tomorrow.

Here’s the math, $16,738,650,000 billion in debt / 155,486,000 tax payers = $107,000 per tax payer. So, pay up.

Bureau of Labor Statistics
Number of taxpayers who will pay the debt.

The key question for you is if your credit card was maxed out at $107,000 would you borrow more? Would a bank give you more?

Congress and our President are arguing over how much more to spend on your credit card.