National Debt - Did you know

**Josephhgoins** · 06-28-2011, 04:30 PM

Interesting facts about the US Governments current Debt and projected deficit.

The current budget estimates around $1,500,000,000,000.00 deficit for this year. In other words the Government expects to spend that much more than they will make through taxes.

Through these deficits over the years we have managed to rack up $14,429,003,700,000.00 in debt.

You want to know how much money that is? That is almost $50,000 for every man, woman, and child in the US. It is almost $130,000 for every taxpayer in the US.

If this money was in $100 bills it would take 188 ea 50 foot box cars to move just the 2011 deficit alone. It would take over 1800 to move the total debt.

If Bill Gates, the richest person in the US (second richest on earth) applied all of his money towards the 2011 deficit it would decrease by 4%. If Warren Buffet, the second richest person in the US (third on earth) applied all of his money towards this debt it would decrease by 3%. If Carlos Slim the richest man on earth applied all of his money towards it, the decrease would be 5%. If the three richest people on earth donated all of their money towards the US’s 2011 budget deficit it would decrease by a measly 12%.

That means that if each and every one of us contributed $200 a month for the next 30 years we could pay off the national debt. Of course that $200 a month comes to a total of $72,000 which means we would lose more than $25K to interest alone and that is assuming we manage to get an unheard of rate of 3%.

This isn't a chain email, I actually looked up these figures and did the math myself. Get ready for some fierce inflation.

**pollypurebred39** · 06-28-2011, 04:32 PM

Holy Cow!

**krbshappy71** · 06-28-2011, 06:31 PM

That is almost $50,000 for every man, woman, and child in the US. It is almost $130,000 for every taxpayer in the US.

So do I add that to my snowball or subtract the amount of debt I personally have first, and then add it?

**Josephhgoins** · 06-28-2011, 07:25 PM

Originally Posted by krbshappy71

So do I add that to my snowball or subtract the amount of debt I personally have first, and then add it?

Right there with you, I can't figure out where it files either.

I am just amazed at this sum!

**ladytoysdream** · 06-28-2011, 08:22 PM

Congressional Budget Office releases the numbers - 32nd straight month that the federal government has ran a deficit.

Scary

**FrugalKate** · 07-02-2011, 08:07 PM

"Congressional Budget Office releases the numbers - 32nd straight month that the federal government has ran a deficit".

Scary
================================
We're in BIG trouble.

Can we afford 4 more years of this kind of $pending?

**nuisance26** · 07-02-2011, 08:22 PM

~It's sickening isn't it? What's worse is that we're sending billions in aid to other countries like there's nothing wrong with our finances at all.

~

**mh3rdwheel** · 07-02-2011, 08:31 PM

It is not just with Obama, but with just a lot of presidents that started sending our troups overseas and sending monetary aid to other countries while cutting aide to us, this is going on for a long time.

Yeah I voted for Obama sometimes I wished I didn't, but I did not like Reagan, or either of the Bushs, I think clinton was ok as a President but sucked as a person.