With the kleptocrats in Washington scheming to launder another $60 billion through Ukraine to fund the military industrial complex, now is a good time to take a look at the debt side of America’s balance sheet. At $34 trillion, the national debt has reached an almost unimaginable number. It’s hard to visualize.
We could talk about how high it would reach if it were a stack of one dollar bills extending up to the sky or how many times it would criss-cross the United States if it were a line of twenties going single file from sea to shining sea. But these are silly exercises. Let’s keep it real and look at the numbers in terms of how much debt is hanging around the necks of every person, worker and household in America today.
The Census Bureau estimated the U.S. population to sit at 335 million as of January 1, 2024. The debt per person math is dizzying because of all the zeroes involved but also very simple. $34,000,000,000,000 in debt divided by 335,000,000 people comes to just over $100,000 per person.
In these days of Bidenflation, maybe that doesn’t sound so big. But keep in mind, this is $100 grand for every single man, woman and child in America, including elderly retirees, babies just born, teens who haven’t hit the workforce and people who are incapacitated.
What do we get if we break down the numbers per worker? Well, we have about 167 million people in the American workforce today. So, if we take our $34 trillion and divide it by 167 million, we get just over $200,000 per worker. Some of these workers are making comfortable six figure salaries, but many are not.
If you are a recent college grad hitting the workforce and you take that entry level “paying your dues” job that pays $15 an hour, you’ve got not only tens of thousands in student loans attached to you. You’ve got a $200,000 debt that Uncle Sam rolled up on your behalf that will need to get paid off at some point after Chuck Schumer and Mitch McConnell have moved on to the Great Beyond.
The debt load gets even scarier when we think of it in terms of households. It’s a nice word: household. It evokes images of family formation, kids, a house, the American Dream. In America, we have about 132 million households. Getting back to math, if we divide our $34 trillion by 132 million, the debt per household comes to over $250,000. But it gets worse.
Not every household is a taxpaying household because you have people who are unemployed or not earning enough income to pay taxes. In America today, about 60% of households pay taxes. This means that we have only about 80 million taxpaying households. And $34 trillion divided by 80 million gives us a debt load of $400,000 per taxpaying household.
That American Dream you have, for yourself if you’re young and just starting out or for your children or grandchildren, is becoming unattainable. And it’s not because some entrepreneurs made billions starting companies that employ lots of people and make lots of profits. Capitalism is not your enemy.
The American Dream is turning into a nightmare because you have a corrupt government that taxes you to death, wastes your money, and then prints even more money to rob you of the purchasing power of your hard earned dollars. An out of control leviathan central government that our founders tried very hard to guard against is the enemy of liberty and prosperity in America today.
The solution is not to pass a bill that allows corrupt politicians with a long track record of enriching themselves and wasting taxpayer dollars to funnel more of your money to foreign countries. Today, like every day, is a good day to end all foreign aid. The solution is to follow the advice of Vivek Ramaswamy and support an agenda of radically reducing the size and scope of the federal government.
If not now, when? When the national debt reaches $500,000 per taxpaying household? $1 million per taxpaying household? The time to hold the line and just say no to even one additional penny of federal spending has arrived. It is time to cut our out of control federal government down to size.
It is absolutely outrageous to witness this money laundry while the situation of so many social sectors worsen every day. Veterans anc single mothers unemployed and homeless, children without medical treatment, begging on the streets or social media for dome aid. The current government do wathever for others, sinking into debt future america generations. Nothing justify this expending. It must stop.