Friday, October 11, 2013

(Re-Post): What is your share of the overall national debt?

Given that the battle to raise the debt limit is not far away, I thought it a good time to re-post one of OLS's more popular entries:

Original Post: Click on this link to access a calculator that quickly determines  your share of the national debt.  What does this mean? Well, imagine for a moment, that the federal government decided that it wanted to raise enough money to pay off all of its current debts and to have enough money to be able to pay off all of its future entitlement commitments (i.e., social security, medicare, medicaid, etc.).  The question is, how much does each person have to pay? The average American's share is $482, 367. How much would your share be?  Also, make sure to plug in different ages: so, for example, imagine you just had a child this year.  How much would your baby owe?  Pretty scary stuff, huh?

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