Your Share of Uncle Sam’s Debt: $534,000

Written on July 18, 2011 by V2A, Filed under

Economics, Taxes

The gap between the money Washington takes into its coffers to pay its IOUs and what it actually owes on those IOUs is taking on Grand-Canyonesque proportions, with unfunded liabilities hovering around $62 trillion, according to a USA Today analysis.

Yes, trillions, and trillions. And that breaks down to a staggering $534,000 per U.S. household, USA Today’s analysis finds. By the end of September, another $5,240 that has accumulated will push the household share to nearly $540,000.

Last year, the government raised $1.5 trillion in new debt to cover budget deficits. Also last year, the government added $5.3 trillion to the amount it owes in new financial obligations.

Repeat such patterns year after year, and it’s no wonder how these liabilities mount up. Most of those obligations are the result of programs such as Medicare and Social Security.

Add to the problem, more and more people are going to retire over the coming years and will expect the Medicare and Social Security services to which they feel entitled.

Post Continues on www.newsmax.com

http://pjtv.com skip gainer
On the debit ceilingwhy is it the taxpayers debt? We did not spend the money, Washington politicians spent the money. The politicians need to have their allowance either taken away or us adult Americans cut their allowance, till they can handle our money like grown ups. Let obama and the politicians eat their vegetables including obama`s peas!
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http://VisiontoAmerica Dell
As far as my share of uncle sams debt. I feel as tho I have paid more than my share. I have been paying in federal income & S/S taxes for 56 years. Any balance due I will share & pass it on to obummer.
Terri Means
I never racked up a dime in debt. But I want those that did, HUNG. I want every politician since LBJ(erk) that dipped into Social Security HUNG. And for those already dead, I want to dig them up and HANG 'em and leave them there, never to return to a nice comfortable grave.
BJY
Obama is good at raising money for his campaign..Why don't he use it to pay on the debt he has made..Yea. right!

SKIP L
and then some!!!!!! and that also gos for the rest as well. SKIP L

Mutantone
Imagine if they had given all that money to the citizens instead or economic problems would be on the way out and far more jobs made to better the economy with new tax infusions from working people and sales tax increases .
whatever
It is not my fault that this debt will kill us,it is not my doing that the US Gov turned against the citizens and gave the whole world every thing we had..It is not my debt..
Melissab
Do the math.. Half of the so called households dont pay taxes , they live off them as a paycheck! If you take our dept and devide that by 152 mil people, I think they were to kind in the reality of whats really owed per working household… Plus, the interest was left out!

budget deficit, debt, Medicare, Social Security

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