Your Share of the Public Debt

We will soon have well over $60-odd trillion in unfunded public debt obligations. That is over $500,000 for the average family household. The figure mounts every day.

                       

That sounds worse when you figure that it is about ten times the average income of each American household. What is more, the amount grows because it is a debt that accrues interest. And interest costs are bound to eventually grow enormously.

Plus, the value of the dollar to pay debt back gets to be worth less as our obligations mount. With inflation, it may well triple or quadruple or go even higher.

Add to all this the mostly overlooked fact that public debt competes with private industry, that's seeking funds for business (and job) expansion. (See the Earl J. Weinreb NewsHole® comments and @BusinesNewshole at Twitter.)