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National Debt


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do we have a topic already discussin national debt?? I don't know much about it

I'm kind of interested... especially when we spend praxtically trillions on things like the war and new orleans right now.

IronChapman mentioned and pointed out that this would be the place for some info that I gave.

Here is a way to put into perspective where the US stands in terms of debt.

The Current Debt is $8,050,855,651,457.04 give or take a few thousand

or $27,051.99 per every person living in the US. Please make out your checks.

Family of four special rate $108,000.00 Aren't we nice

It has increased at a rate of $3.48B every day since the FY started on October 1st.

We call it Fiscal Responsibility. LOL

For those that care the interest exspense was: $ 352,350,252,507.90 for FY05

The national debt peaked at 120% of GDP in 1946 due to the war effort, but Roosevelt, Truman, Ike, Kennedy, LBJ, Nixon and Carter all did their part to bring the national debt back to pre-war levels. By the beginning of 1981, the national debt had fallen to 32.5% of GDP. Then, Reagan took office and the national debt took off. It rose non-stop for 12 years to 66.3% at the end of Bush's term, erasing 25 years of progress in paying down the national debt. Clinton lowered it to about 55.5% At the current rate, it will be 77.7% by the end of G W Bush's 2nd term.

Thanks for telling me where to go IronBoy. LOL

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