Tuesday, August 23, 2011

U.S. Debt Clock

I have linked to this site in previous postings and tweets. Every time I view it (and each time, of course, it only grows), I am recall Mark Twain's adage (and I paraphrase) that "statisticians lie, but statistics don't".

These statistics don't lie. The numbers are what the numbers are.  National debt of $14.6 trillion. State and local debt of another $3 trillion. Throw in non-governmental debt -- personal debt, credit card balances, and mortgage debt combined $32 trillion. And then the biggest category of "Unfunded liabilities" (Medicare, Social Security, and Prescription Drugs, which comes to $115 trillion. All in we are at close to $165 trillion. I calculated this earlier and my recollection is that it comes to about $1 million per taxpayer.



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