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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.

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


Click Here For Solutions To America's Economic Problems

Click here to contact your Representative in Congress.

Unless the above article is already copyrighted, this article is licensed under a Creative Commons Attribution-No Derivative Works 3.0 United States License, EIC grants permission to use this article in whole or in part provided attribution is given, preferably in the form of a link back to EconomyInCrisis.org.

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