US Per Capita Debt Reaches This Scary Level
As of May 31, 2011, the U.S. government owed $14,344,668,281,211.01 in public debt. At the end of May, the U.S. population was 312.25 million. When dividing the total national debt but the number of people in the U.S. — not just adults and civilians — each person owes roughly $45,939 — that’s $183,756 for the average family of four.
That compares to the $894 debt per capita in January 1918, after adjusting for inflation. National debt has steadily increased since then, with the exception of a decline following the World War II debt spike. The amount of debt each American “owes” is more than 51 times what it was in 1918. Now, about that crazy Federal Budget Deficit …
Get Savvy Stock Picks: See Our Newest Feature Trades Now!