Wintery Knight

…integrating Christian faith and knowledge in the public square

U.S. per person debt now $53,378 – 35% higher than in Greece

Obama 2013 Budget Debt Projection

Obama 2013 Budget Debt Projection

From the Weekly Standard. (H/T WGB)

Excerpt:

“According to estimates from the International Monetary Fund, America’s total government debt will be $16.8 trillion by the end of the calendar year, compared to $441 billion for Greece,” the Republican side of the Senate Budget Committee explains.

“On a per person basis, that means U.S. debt is $53,400 for every man, woman, and child, compared to $39,400 for every man, woman, and child in Greece. The disparity between per capita debt in the U.S. and Greece has grown 40 percent (roughly $8,400) since 2011. Now, U.S. per person debt is 35 percent higher than that of Greece, and is also higher than per capita debt in Portugal, Italy, or Spain (which together with Greece make up the so-called PIGS countries).”

That’s based on total government debt.

And from CNS News, this for Americans under the age of 18:

If Americans under the age of 18 were required as a group to pay off the entirety of the federal government’s debt in equal shares, each would now need to pay about $218,676.

That is more than the $130,468 average price tag for four years at a private college or the $173,100 median price for an existing one-family home in the United States.

During the time Barack Obama has been president, the U.S. government debt has increased from approximately $143,255 per American under 18 to approximately $218,676 per American under 18–a climb of $75,421 or about 53 percent.

If you know anyone under the age of 18, it might worth explaining this to them.

UPDATE:

H/T The Elusive Wapiti.

Filed under: News, , , , , , , ,

2 Responses

  1. Jerry says:

    You’re ignoring a lot of other important debt. There is also too much local (state, county, municipality) debt in the form of bonds and other debt they can hide. Then there are the other forms of US debt – homeowners, student loan, the other various forms of secured, the unsecured debt (credit card, personal loans). If you look at that, total US debt is estimated to be about 58 trillions dollars – not a very stable outlooks.

    This site give an interesting look at it all:

    http://www.usdebtclock.org/

    • Jerry you don’t have a leg to stand on. Obama added 5.5 trillion to the debt in 4 years. You voted for him in 2008. You want him to do the same in the next four years. You are for higher debt. That is the central plank of your political platform: higher debt caused by more spending. If you stand for anything it’s for killing unborn children, and burdening those who survive with over $200,000 in debt – so that government workers can have 6-figure pensions.

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