It is official now, the United States national debt has hit the 23 trillion dollar milestone, that’s twenty-three with twelve zeros after.
That’s a pretty staggering figure — $23 trillion dollars in debt and climbing every second of every day. And in order to give you an idea, that is basically every taxpayer is in debt for $186.576 dollars. And if you were to break it down evenly across every citizen in the United States including those who don’t pay taxes, every United States citizen is $69.735 dollars in debt. And the debt to gross domestic product ratio is now a 106.6 percent. That is very significant; for that ratio to be over a hundred percent, it means that it’s above and beyond 100 percent would be an equal right to the gross domestic product, but it’s now above it by six-point six percent. Unfortunately, the economic collapse always arrives eventually, and our future is looking extremely bleak at the moment.
And as the argument goes, the more the debt spirals out of control, the more you’re going to have inflation, the more you’re going to have undisciplined frivolous spending. So a lot of different people will have a lot of different opinions when it comes to this subject, the more and more this national debt figure climbs. And as you know, nobody’s really doing anything to curtail it, not the FED, not the president, nobody. At this point it is just a matter of time before the dollar collapse and a major stock market crash and society devolves into chaos.
It is quite crazy to see how much debt we have in the United States. We are paying a lot in interest alone. In fact, 13,000 almost 14,000 dollars per adult just in interests every year. But wait, there is even more debt, the U.S. total debt when you include private, and public debt is seventy-four trillion dollars, so it’s not just a problem with the federal government, although that is a huge problem. They can print money, you and I cannot, so when you take into account all those factors involved, you know that the debt owed by every American citizen it’s over two hundred twenty-four thousand dollars.
We need to take all that into account for sure. So there is that we’ve got mortgage debt we’ve got student loan debt and we have credit card debt , and if you take in account the average round that credit card debt which is probably one of the worst kinds of debt there is, that’s over sixty-six hundred dollars per holder, but the average I’ve heard was a lot more about fourteen thousand dollars in debt for the credit card debt . Student loan debt almost becomes a necessary evil in this day and age. There’s so much pressure to go to college, and there’s so much waste in the public education system. The education is not what it used to be these days. And then you have mortgage debt too, and the average in the United States is about two hundred four thousand dollars per individual per mortgage for each house out there.
The fact of the matter is that we are in debt-driven Society, unfortunately, and it’s a shame that has to be that way. This debt that was accumulated over so many years that most of us agree will never be paid off in our lifetimes or in the lifetimes of our children and grandchildren.
So we continue to roll on toward our date with economic collapse, and most people are completely oblivious to what is about to happen to us.