PeaceAndLove;
"Per Taxpayer Debt is currently$110,344"
It seems we are on track for a financial observation I read about 1 year ago. Fortunately the current "track" is unsustainable.
Observation was that, if you have toddler to pre-school aged children now, that by the time they reach college age, each of them (and all of us) will be carrying a govt debt load of approximately
$400,000 !
For a moment, forget trying to make the figure "real" to people, it is easily done by asking two questions:
1. What bank with any ration of sanity would loan anyone carrying that kind of debt load, from gitgo, the money to go to college?
2. With government having removed that much money from the economy, what bank would even have it to loan?
Incidentally you might enjoy my musings on the
Oct 25 thread.
Fred