the average American’s share of debt is more than one makes in a year

Trick or Treat? (9-9-9 or Restore America?)



The Daily Caller reports:

“As children across America costume themselves as ghouls, ghosts, goblins and former North African dictators Monday night, they may have missed the most spine-chilling scare of the day. According to calculations based on the International Monetary Fund’s World Economic Outlook, on All Hallows’ Eve the United States’ total debt will surpass its Gross Domestic Product for the first time since World War II.

That means the average American’s share of government debt is more than an average American makes in a year. Spooky!

On October 19 Bloomberg released a chart showing that per capita gross government debt would to exceed per capita GDP in the very near future. As Bloomberg put it, “America’s bills are about to exceed its paycheck.”