7/7/2011 - 14 Facts About The Federal Deficit That Will Blow Your Mind

14 Facts About The Federal Deficit That Will Blow Your Mind




#1) As of December 1st, 2009, the official debt of the United States government was approximately 12.1 trillion dollars.



#2) To pay this 12.1 trillion dollar debt would require approximately $40,000 from every single person living in the United States.



#3) The $1.9 trillion cap increase recently passed by the House amounts to another $6,000 for every living American.



#4) The U.S. government's debt ceiling has been raised six times since the beginning of 2006.


#5) If we spent a dollar a second, it would take more than 31,000 years to spend a trillion dollars


#6) When Ronald Reagan took office, the U.S. national debt was only about 1 trillion dollars.


#7) The U.S. national debt has more than doubled since the year 2000.



#8) Barack Obama’s latest budget anticipates $5.08 trillion in deficits over the next 5 years.


#9) The U.S. national debt on January 1st, 1791 was just $75 million dollars. Today, the U.S. national debt rises by that amount about once an hour.


#10) The U.S. national debt rises at an average of approximately $3.8 billion per day.


#11) In 2010, the U.S. government is projected to issue almost as much new debt as the rest of the governments of the world combined


#12) The majority of U.S. debt is purchased by the Federal Reserve. Talk about a Ponzi scheme!


#13) A trillion $10 bills, if they were taped end to end, would wrap around the globe more than 380 times. That's still less than the national debt


#14) Counting social security and medicare, the U.S. government is committed to future payment in excess of 65 TRILLION dollars.



Read more: http://www.businessinsider.com/facts-about-the-deficit-2010-3?utm_medium=email&utm_campaign=Post%20Blast%20%28moneygame%29%3A%2010%20Things%20You%20Need%20To%20Know%20Before%20The%20Opening%20Bell&utm_source=Triggermail&utm_term=10%20Things%20Before%20the%20Opening%20Bell#1-as-of-december-1st-2009-the-official-debt-of-the-united-states-government-was-approximately-121-trillion-dollars-1#ixzz1RQ9nAYfC