Some of the more interesting elements are highlighted below
Data | Number | Comment |
US PUBLIC DEBT SUBJECT TO LIMIT | USD 14.29 trillion | This is the number which the debt ceiling debate is about . It will hit the limit of 14.3 trn on August 2nd 2011 |
It cannot rise any more unless the ceiling is lifted by Tuesday | ||
US National Debt | USD 14.5 trillion | |
US National Debt per taxpayer | USD 130,093 | |
US GDP | USD 14.8 trn | GDP is almost equal to National debt . Debt /GDP Ratio is about 98% |
US Federal Tax Revenue | $2,200,102,900,000 | Annual Tax take |
US Federal Spending | $3,601,476,650,000 | Annual Expenditure |
US Fedral Budget Deficit | -$1,401,373,750,000 | Annual Federal Deficit - 1.4 trillion. The extra amount that has to be borrowed each year |
US Total Debt | USD 54.9 trillion | |
US Total Debt Per citizen | USD 176,169 | |
Total National Assets | USD 75.8 trn | |
Assets per citizen | USD 243,166 | it is higher the US debt per citizen by USD 66,997 |
US Unfunded liabilities | USD 114 trn | This is the scariest number. Government commitments to spend -which have not been funded |
They will have to be paid from future taxes or more future borrowing (!) | ||
Unfunded liabilitie per citizen | USD 1,027,206 | Unfunded liabilities are USD 1mn per each taxpayer ! Can they ever be paid ? |
The last two items are off –balance sheet items and are almost never debated in Washington.
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