Thanks to the mismanagement of career politicians, and of course the Fed, our national debt should reach 17 million in the next few weeks. If every person living in the U.S. was forced to pay their share of the debt, it would amount to around $53,000 per person. This figure also includes children.
Of course if we use fuzzy math these debts can easily be paid in full with all of the minimum wage part-time jobs that are available. Sanity left Washington in the late 1950’s and it has never returned. Until middle class Americans take a stand and hold politicians accountable, we will remain on the same abysmal course.
We will need to raise the debt ceiling again this coming February and indeed it will happen. The debtor is truly servant to the lender.