Your Fair Share of National Debt, $1.1 Million

Posted: October 30, 2013 in Uncategorized

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We, as Americans, hear a lot about the National Debt, which, at this exact moment, sits at $17,382,327,853,713.82, that’s $17 trillion and some change. If you take that overwhelming number and divide it amongst the unwashed masses, (all Americans) then each of us would pay a measly $54,777.39

That doesn’t sound so bad does it? If you take into account that $17 trillion is only the current debt, and the fact that in the month since September 30 we’ve added $2.58 billion a day. That means that, with the speed of the USPS, by the time your check arrived in DC it would no longer cover the tab Obama racked up.

Since we don’t know exactly how much extra debt the politicians and bureaucrats will pile on top of that in the next two months, it would take someone a lot smarter than me to do the math.

Let’s just look at what we owe right now. You’re probably thinking, “But you just said that right now the debt is just over $17 trillion.”

I did say that. What I didn’t say was that what we currently owe and what we know we will owe are two different things.

The United States has a lot of unfunded future liabilities that are a known amount, more or less. These liabilities are things that the government has promised to pay, things like SSI and Medicare.

The current unfunded Social Security liability is a hefty $15,686,833,083,922.26. That $15 trillion pales in comparison to the Medicare liability which comes to $80,511,962,496,192.33. Then tack on the prescription liability, $20,221,539,759,871.63, and of course healthcare, $9,309,047,358,458.26, and you end up with a $125,729,382,698,444.48.

$125 trillion is nothing to scoff at. That doesn’t include the debt we already have, but what’s $17 trillion when you are working towards $150 trillion?

Just to remind you, these liabilities only include what I’ve listed, only what laws that obligate the government to pay out in entitlements. If we change the laws it would change that liability, bringing the number up or down depending on the changes. Another thing to remember is that the $125 trillion in liabilities does not include the growth of entitlements or the additional debt that will be racked up by other programs.

The liability distributed among every American comes to $396,214.37 per person.

The big shocker? The amount broken down into US taxpayers is not every American, because if you aren’t paying taxes why would you pay for the nation’s debt?

This number, per taxpayer mind you, totals $1.1 million. That would take the average tax payer over 28 years to pay, if they did nothing but pay this debt for those 28 years. Personally it would take me about 44 years if my income never changed. By the time I paid my share I would be ready to draw Social Security.

I know, looking at all these overwhelming numbers gets old, but just think about how long it would take you to pay your portion. That’s what every American needs to think about before they vote in the 2016 elections. I want people to go to Washington that will do their job and reduce my portion as much as possible, and as fast as viable. How about you?

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