US National Debt: $1 Million Per Taxpayer

U.S. National Debt: $1.1 Million Per Taxpayer

Each U.S. taxpayer now has a federal-debt liability of $1.1 million—and rising.

The public tends to focus on the total national debt, which just passed the $17 trillion mark—up from $10.6 trillion when President Obama took office. But that figure pales in comparison to the federal government’s long-term unfunded liabilities—money the government is obligated to pay over and above the revenues it is estimated to receive.

According to the U.S. Debt Clock, total long-term unfunded liabilities are at $126 trillion, a $1.1 million liability for each U.S. taxpayer...

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(Via Andrew Bolt)