Topic: How to write a trillion in numbers
June 19, 2019 / By Darla Question:
Oops! Just Washington through Reagan. But, he's done it in only 19 months. America may not survive 4 years.
Breann | 3 days ago
By the numbers:
Our national debt is more than $13 trillion.
◦Every American worker’s share of the national debt is more than $80,000.
That is how much the United States has borrowed, and how much we have to pay interest on. To put $13 trillion in perspective, our national debt is larger than the total economies of China, the United Kingdom, and Australia combined.
And under current policies, our national debt will continue to grow by hundreds of billions every year.
According to the Congressional Budget Office, the national debt held by the public will grow by more than $9 trillion over the next decade, to more than $20 trillion total.
This year, the United States will accumulate over $3.5 billion in new debt each and every day. That’s more than $2 million per minute.
◦The Treasury Department estimates that our debt to China is approximately $843 billion. That is over $10,000 in debt for the average American family
◦From 2010 to 2020, the Congressional Budget Office estimates the cumulative deficit will be over $9 trillion. This means that over the next decade, more than $9 trillion will be added to our existing national debt, creating a total debt of more than $20 trillion.
◦According to the January 2010 Congressional Budget Office report, the federal budget deficit in 2009 was $1.4 trillion (9.9% of GDP). The 2010 deficit under proposed policies is projected to be $1.5 trillion (10.3% of GDP). These are the largest deficits relative to GDP since 1945.
◦From 2008 to 2009, public debt rose from 41% of GDP to 53% of GDP—$7.5 trillion at the end of 2009. According to the March 2010 CBO report, under proposed policies, public debt will rise to 90% of GDP by 2020, equaling approximately $20 trillion.
◦About $4.4 trillion of the total debt is money that the government has borrowed from itself, by writing IOUs for huge sums taken from Social Security and Medicare surpluses.
◦In July of 2009, the United States paid more than $19 billion in interest on the public debt [$19,812,486,187.83, Office of the Public Debt]. In 2009, according to the CBO, $187 billion of taxpayer funds were used just to pay interest on the debt—not to pay off the debt, just to pay interest on it.
◦As reported by the Treasury Department, the top ten countries and entities holding U.S. debt are: Japan, China, the United Kingdom, Oil Exporters, Caribbean Banking Centers, Brazil, Hong Kong, Russia, Luxembourg, and Taiwan.
in the beginning, regardless of if Obama have been an Atheist, that is not any reason to dislike him. He did no longer get us in extra debt. in actuality, his strikes are assisting us get out of debt. He did no longer reason the debt, he inherited it from George Bush. he's no longer a "communist socialist attempting to break usa". i'm sorry you're so poorly counseled. you ought to positioned funds into examining another articles and watching different stations than ones that are so for sure packed with Republican propaganda.
He has spent more with Obama care and the liberal wish list, oops I mean stimuluss package than we spent on WWII INCLUDING the Manhattann Project.
Oh good, just Washington through Reagan. I feel so much better now. Are you factoring in the $50 billion boondoggle for his union buddies he announced on Monday?
When your predecessors damage the workplace in the way that his have, it takes a lot to repair. Keep in mind that part of that debt is keeping all the people who lost their jobs from being homeless.
We are still recovering from Regan's fiscal policy.