U.S. Debt: $100,000 per Man, Woman, and Child
Monday, June 24, 2024
John Stossel offers an eye-opening update on that measure of government looting euphemistically known as the "national debt."
He starts his litany of disturbing financial figures and negligent political ones with the following:
The federal government is now almost $35 trillion in debt.As if that weren't bad enough, he also notes:
That means every American owes $100,000.
Last year, we hit a new ugly milestone: Americans must pay $1 trillion per year just for interest on our debt.
That's more than we spend on defense -- on infrastructure, education, poverty programs ... everything, but Social Security and Medicare.
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This guy is guaranteed to add more to the pile. (Morph via FaceShape from pubic domain official portraits of President Joe Biden and former President Donald Trump.) |
Stossel correctly calls out several Presidents before the last two, who admitted the problem, but failed to do anything about it.
But that's better than the last two -- also meaning the next one -- who both heaped trillions more onto the pile.
While I would have appreciated Stossel noting that the best way to attack the deficit would be to reduce spending, I will not complain much: He is one of the few commentators today with a wide audience to speak about this serious problem at all.
If it is true that admitting a problem is the first step to solving it, then we are further away from addressing the threat improper government poses to our savings and our futures than we were a couple of decades ago when the problem was much more manageable than it looks now.
-- CAV
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