Saturday, May 30, 2009
The U.S. government took on $6.8 trillion in new obligations in 2008, pushing the total owed to a record $63.8 trillion.
This staggering amount that translates into $546,668 per household according to a USA TODAY analysis.
The figure is quadruple what the average U.S. household owes for all mortgages, car loans, credit cards and other debt combined.
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We will never be able to pay this off.
Never.
Heck-of-a-job Georgie
Some of it the banks, and AIG or whatever they are calling themselves now will be required to reimburse. Along with GM and whoever else was deemed worthy to get borrowed stimulus monies. But the resulting debt is still overwhelming. I thought those rightys were all about controlled spending and less government. The fact that they are trying to blame the entire debt on Obama doesn’t go unnoticed by me. I haven’t agreed with all of the bailouts, but if they prove to have altered a depression, then I suppose it was necessary.
Haven’t heard a thing about health care in awhile. I guess it went the way of DADT.
Who do we owe this money to? That’s the €million question.
Can you imagine the fees & fines if the payment is received late??