US National Debt Clock
As of October 3rd, 2008 the outstanding United States National Debt is $10,127,939,197,793.67. The estimated population of the United States is 304,837, 708 which results in each persons share of the debt at $33,334.04. In my mind, that’s an appalling number. To know that personally I have not acquired any personal debt, and yet I have an overhead debt of $33,334.04 is a scary thought.
The US National Debt is a huge problem. The reason being that it is continuing to increase as our GDP decreases, there is still no bailout plan of action and just the simple fact that the debt is continuing to grow. According to the US National Debt clock website provided the debt has increased by $3.03 billion per day since September 28th, 2007.
In the articles “Bush administration adds $4 trillion to national debt” Sep 29, 2008, found on the National Debt clock website, I have come to find out that during the Bush administration the national debt has increased by $4 trillion. “That is the biggest increase under any president in U.S. history.” Under Bush’s presidency the national debt has seen a 71.9 percent increase. In this particular article it states a bailout plan that is currently pending in congress. This plan could potentially add hundred of billions of dollars to the debt, which President Bush states would “be paid back.” Sure it would. If passed it would be the seventh time that the debt limit would be raised during the bush administration.
When looking into the Social Security Trust Fund, prior to the Bush administration, what was found was nothing but a stack of IOU’s. Which as a result, the future generations (including me) will be paying off by instating higher ...