Posted on Oct 12, 2016
High on Next President's Task List: Reduce the National Debt
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I am writing a series of articles. What would you want on the Next President's Task List? Tell me and I might write it up.
The national debt keeps growing as time passes. According to the U.S. Treasury, the U.S. “Total Public Debt Outstanding” was over $19 trillion as of September 26, 2016.
The United States Census Bureau says that as of September 28, 2016, we have a population of over 324 million people. If you divide the exact amount of the U.S. total outstanding public debt by the exact number of people who live in the U.S., each person would need to pay $60,167 to eliminate our national debt. However, this calculation does not take into account those segments of the U.S. population who are too young to work, making the $60,167 price tag very inaccurate.
The national debt keeps growing as time passes. According to the U.S. Treasury, the U.S. “Total Public Debt Outstanding” was over $19 trillion as of September 26, 2016.
The United States Census Bureau says that as of September 28, 2016, we have a population of over 324 million people. If you divide the exact amount of the U.S. total outstanding public debt by the exact number of people who live in the U.S., each person would need to pay $60,167 to eliminate our national debt. However, this calculation does not take into account those segments of the U.S. population who are too young to work, making the $60,167 price tag very inaccurate.
High on Next President's Task List: Reduce the National Debt
Posted from inhomelandsecurity.com
Office of the President (POTUS)
Future
Planning
Welfare
Posted 8 y ago
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Annual deficits lead to the national debt. We are a nation that does not live within it's means year after year after year. Too many Americans have no concern with us spending far more than we take in. Most do not seem to understand this. The national debt is an outcome of a nation that spends too much every year much like too many Americans run up credit card debt or loans etc. beyond their means to repay them. If you live within your means every year there would never be a national debt.
Too many Americans do not pay into the system (citizens, corporations etc.). Too many do not seem to care that we are sitting on almost 20 trillion in debt and run a budget deficit almost every single year. We either need to take in far more in revenues (taxes) or we need to spend less money (or some of both). We also need an economy that is growing more than 1% or this will never work. One of the Obama legacies. If we were growing at 4-5% GDP every year we would stand a far better chance of addressing the budget deficits and then going after the debt.
Too many Americans do not pay into the system (citizens, corporations etc.). Too many do not seem to care that we are sitting on almost 20 trillion in debt and run a budget deficit almost every single year. We either need to take in far more in revenues (taxes) or we need to spend less money (or some of both). We also need an economy that is growing more than 1% or this will never work. One of the Obama legacies. If we were growing at 4-5% GDP every year we would stand a far better chance of addressing the budget deficits and then going after the debt.
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