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America's Debt Is Too Much

Published 08/05/08 Jeff Bennett - Print Article
E-mail - editor@economyincisis.org

Here are the problematic figures that will haunt the nation’s future generations if not immediately corrected: America is indebted more than $9.4 trillion. This debt is growing by almost $1 million a minute or $1.4 billion per day.

The top-four foreign holders of U.S. debt are Japan, China, Britain and Saudi Arabia. Together, these four nations hold around $2.3 trillion of national debt; Japan holds around $517.2 billion while China holds nearly $405.5 billion.

When the time comes to repay this staggering bill, each man, woman, child and infant will be responsible for shoring up around $30,000. This totals $150,000 owed from households of five.

These numbers speak for themselves. Independence will be forever lost unless America again becomes a nation of exports, backed by a strong industrial and manufacturing base.

Source pal-item.com:

What are the dimensions of the government's debt? USA Today reported late last year that the national debt is growing nearly $1 million a minute, about $1.4 billion a day.

…

Here's a more manageable number, for the government maybe but hardly for each of us individually: The debt comes out to about $30,000 for each man, woman, child, including infants, in the U.S. That's $150,000 on the backs of a family of five.

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Foreign governments -- led by Japan, China, Britain and Saudi Arabia -- hold just below half, or $2.2320 trillion, of U.S. debt.

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