3 ms·

That is $3000 a year per person, given a U.S. population of 1/3 of a billion.

exclusiv 3y ago
Ok now add in the $210 trillion in unfunded liabilities that aren't part of the national debt. And mix in a little wage gap, AI impact, political divide, foreign conflicts, wars and military spending. Oh and the current annual interest expense is about 38% of all federal individual and Corp tax revenue. How do you service the debt? You print and print. And then that causes more unrest. You can't default and you can't keep rates high enough for long to matter on inflation. Because you have to print to service the debt which only grows with higher rates and time, which you have less of when unrest grows.
fragmede 3y ago
Which as we all know from our high school civics class, the debt reckoning is going to happen, and every citizen will be asked to personally pay that debt to the debt reaper, and if you can't pay it, it's off to debtor's prison with you, so you'd better be saving past your most recent paycheck, or else. Seriously though, what does that even mean? Per capita, we rank fairly low for national debt, which means we should be spending way more per person to maintain and improve our existing infrastructure. HSR when?
- seanmcdirmid 3y ago
  > Which as we all know from out high school civics class, the debt reckoning is going to happen, and every citizen will be asked to personally pay that debt to the debt reaper, and if you can't pay it, it's off to debtor's prison with you, so you'd better be saving past your most recent paycheck, or else. A lot of this debt is money we lent to the government via past social security surpluses. The other large debtee are other American organizations, only a small part of this debt is held overseas.
greyface- 3y ago
In other words, if you receive more than $3000 per year in US Treasury interest payments, then you're benefitting from this. If less, then you're paying for it.
- typingonmyphone 3y ago
  If you are making $3000 per year in US treasury interest payments, you are likely paying far more in US taxes, part of which will fund these interest payments.
_akhe 3y ago
If you think that number is high, consider that most people are forced to pay that amount every 30-60 days in rent just to keep a roof over their head. That's a tangible debt that exists and affects people. The concept of "national debt" is a joke in the face of cost of living. The overwhelming expense that hamstrings most people is every 30 days is losing 30-50% of their income to rent after they just lost 40% of it to taxes. This "$3k per person debt" on the other hand is related to printed money largely pocketed by corrupt people in our government - who now will print over $1T dollars in a single go for the latest cause ("keeping the govt open", Ukraine, etc.) - it has nothing to do with what Americans ask for or receive in benefit. People are over-burdened with excessive living costs and really have to take that hit each month, this so-called debt is a joke. I wish the U.S. would default on the debt already and start replacing government infrastructure with modern technology so our country can operate like a functioning machine again.

Ok now add in the $210 trillion in unfunded liabilities that aren't part of the national debt. And mix in a little wage gap, AI impact, political divide, foreign conflicts, wars and military spending. Oh and the current annual interest expense is about 38% of all federal individual and Corp tax revenue. How do you service the debt? You print and print. And then that causes more unrest. You can't default and you can't keep rates high enough for long to matter on inflation. Because you have to print to service the debt which only grows with higher rates and time, which you have less of when unrest grows.

fragmede 3y ago

Which as we all know from our high school civics class, the debt reckoning is going to happen, and every citizen will be asked to personally pay that debt to the debt reaper, and if you can't pay it, it's off to debtor's prison with you, so you'd better be saving past your most recent paycheck, or else. Seriously though, what does that even mean? Per capita, we rank fairly low for national debt, which means we should be spending way more per person to maintain and improve our existing infrastructure. HSR when?

seanmcdirmid 3y ago
> Which as we all know from out high school civics class, the debt reckoning is going to happen, and every citizen will be asked to personally pay that debt to the debt reaper, and if you can't pay it, it's off to debtor's prison with you, so you'd better be saving past your most recent paycheck, or else. A lot of this debt is money we lent to the government via past social security surpluses. The other large debtee are other American organizations, only a small part of this debt is held overseas.

greyface- 3y ago

In other words, if you receive more than $3000 per year in US Treasury interest payments, then you're benefitting from this. If less, then you're paying for it.

typingonmyphone 3y ago
If you are making $3000 per year in US treasury interest payments, you are likely paying far more in US taxes, part of which will fund these interest payments.

_akhe 3y ago

If you think that number is high, consider that most people are forced to pay that amount every 30-60 days in rent just to keep a roof over their head. That's a tangible debt that exists and affects people. The concept of "national debt" is a joke in the face of cost of living. The overwhelming expense that hamstrings most people is every 30 days is losing 30-50% of their income to rent after they just lost 40% of it to taxes. This "$3k per person debt" on the other hand is related to printed money largely pocketed by corrupt people in our government - who now will print over $1T dollars in a single go for the latest cause ("keeping the govt open", Ukraine, etc.) - it has nothing to do with what Americans ask for or receive in benefit. People are over-burdened with excessive living costs and really have to take that hit each month, this so-called debt is a joke. I wish the U.S. would default on the debt already and start replacing government infrastructure with modern technology so our country can operate like a functioning machine again.