The national debt and annual budget deficit are both exploding. Its effect on the economy on Main Street is starting to be felt by everyone of us.
I was sent this link a few weeks ago that calculates the debt and deficit figures (in real time) and thought you would like to see it.
Along with the debt and deficit, it calculates, based on Federal Reserve Data, the value of all assets owned by the citizens of the United States (Small Business, Corporate and Personal Assets). About $234,000 per citizen. It compares it to the total US governmental unfunded liabilities (Social Security, Prescription Drug and Medicare Liabilities) which comes out to about $305,000 per citizen.
If this was a client and not our Federal Government, I would advise the client to find a very good bankruptcy attorney, quickly!
It is more than a little scary!
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