According to the U.S. National Debt Clock, as of March 15, 2011, the outstanding public debt is over $14,000,000,000,000.00. Another way to look at the debt is that every person owes $46,620.00 for his share of the U.S public debt. In 1984 the national debt was 1.5 trillion dollars. In 1999 it was about 5 trillion dollars, now it is over 14 trillion dollars.
China and Japan own nearly half of the U.S debt that is owned by foreign governments.
From my point of view this is a bigger number than I have ever seen before. I’m a immigrant and this is great responsibility to try to bring the number down. One of my questions is how can we help the country with this problem. Also, how can we stop this increase?
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by Eider Chinguad
I agree with Eider that this number is pretty outrageous. It's hard to believe that one of the weatlhiest superpowers in the world is so in debt! As for helping the country, I'm not sure really what we can do exactly. I suspect that a lot of programs will have to be reworked financially and unfortunately, funding for many things throughout the country will probably be cut. I guess we'll have to prioritize to keep some of the most important things, like schools, workplaces, and hospitals, running.
ReplyDeleteI agree with Eider that our debt is outrageous, however we now are faced with this question. How can we get rid of it? I am not sure if we will ever be able to "climb out" of this debt. Hopefully our political officials can figure a way out.
ReplyDeleteRyan Arto