U.S. Federal Public Debt Equates to $107,000 Per Household

According to The Washington Free Beacon, the Cato Institute just released a report stating that the amount of federal debt held by the public totals more than $13 trillion.

$13 TRILLION! To be exact it is $13,050,826,460,886.97.

That comes out to $107,000 per household in the United States. Did you know that not only do you have your own personal debt, but your government also has heaped another $107,000 on you?

The bigger problem is that our federally elected politicians refuse to do anything about our debt. They are not even attempting to stop the bleeding — let alone pay down any debt.

Do you know when the last year the U.S. paid down anything on our national debt?

1951.

Yes 1951 was the last time, according to Treasurydirect.gov.

In the article one economist states that “it costs taxpayers $3 to provide a benefit worth $1 to recipients.”

Sounds like an efficient operation doesn’t it? Government at its best!

You may be saying, "Hey, Renk! I thought our national debt is well over $18 trillion and quickly approaching $19 trillion."

I would say you are correct.

The $13 trillion we are talking about is just the public debt — debt we owe to other countries and people. The rest is made up of money our elected politicians have taken from us via raiding our social security fund and many others.

The Live with Renk show airs Monday through Friday 9 a.m. to noon, to let me know your thoughts at (269) 441-9595.

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