A New Record

by Cato Fri Aug 21, 2009 7:52 am

As of August 18, 2009 The National Debt stood at:

$11,726,594,754,347.90

Here is a little food for thought:

US Population as of 8/21,2009 - 307,232,521

National Debt as of 8/19/2009 - $11,726,594,754,347.90

Debt per individaul - $38,168.47

Interest based on 3.75% - 3.75%

Yearly Interest per individual - $1,431.32

Yearly Reported Budget Deficit for 2009/2010 - $1,200,000,000,000.00

Increasing debt per individaul - $3,905.84

Total increase in debt including interest - $5,337.15

Present Percentage Yearly Increase - 13.98%

Now here is the rub. The preceeding figures are based on all 307 million people, young old, male female, taxpaying, nontaxpaying. The REALITY is that only approximately 55% of the WORKING public pays taxes and that figure is becoming less everyday.

Cato

by SamCogar Fri Aug 21, 2009 10:02 am

Cato wrote:
Now here is the rub. The preceeding figures are based on all 307 million people, young old, male female, taxpaying, nontaxpaying. The REALITY is that only approximately 55% of the WORKING public pays taxes and that figure is becoming less everyday.

Cato

And technically, one has to subtract the number of Public (government) and Non-Profit employees out of that 55% ..... because they get their pay from the rest of the WORKING public that pays taxes and that figure of government employees is becoming more everyday.

.

by SamCogar Sat Aug 22, 2009 6:31 am

WASHINGTON - The Obama administration expects the federal deficit over the next decade to be $2 trillion bigger than previously estimated, White House officials said Friday, a setback for a president already facing a Congress and public wary over spending.

The new projection, to be announced on Tuesday, is for a cumulative 2010-2019 deficit of $9 trillion instead of the $7 trillion previously estimated. The new figure reflects slumping revenues from a worse economic picture than was expected earlier this year. The officials spoke only on the condition of anonymity ahead of next week's announcement.

http://www.msnbc.msn.com/id/32513705/ns/politics-white_house/

by Cato Sat Aug 22, 2009 7:46 am

SamCogar wrote:
WASHINGTON - The Obama administration expects the federal deficit over the next decade to be $2 trillion bigger than previously estimated, White House officials said Friday, a setback for a president already facing a Congress and public wary over spending.

The new projection, to be announced on Tuesday, is for a cumulative 2010-2019 deficit of $9 trillion instead of the $7 trillion previously estimated. The new figure reflects slumping revenues from a worse economic picture than was expected earlier this year. The officials spoke only on the condition of anonymity ahead of next week's announcement.

[/quote]

Sickening ain't it.

Cato: Number of posts : 2010
Location : Behind my desk
Registration date : 2007-12-28

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