National debt clock

**bulrush** · 02-26-2008, 12:15 PM

Thought this might interest some of you.
National debt clock: http://www.brillig.com/debt_clock/
Has total debt, total estimated US population, and estimated debt per person, now about $30,000 per person.

Anyone have any graphs about how much of the US budget goes to interest on the debt? A historical graph would be useful, I believe the interest portion has been eating more and more of the US budget over the past 20 years. I thought it was 20% at last check around 1996.

**BraggSurvivor** · 02-26-2008, 01:00 PM

Is that all it is? Thought it was much higher....

**Beo** · 02-26-2008, 01:03 PM

Dpends on how you look at it, I owe on my house and credit card, my personal debt is under $30,000 other than the house. As for what the U.S. owes... I say the political azzbuckets in D.C. owe that since they gave it out. Once the house is paid off only property tax for a while and then out to the wilds and not paying anyone.

**BraggSurvivor** · 02-26-2008, 01:10 PM

Good on you Beo, the first and foremost thing to do is to get out of debt. The more money you have coming in that is not going out to pay off credit cards, the more you have to spend on you or to put into tangible items that as the inflation increases you are actually saving money.
If you buy 500.00 worth of food now (and make sure it is the kind of food you eat everyday or things that you use everyday. As you use them (and replace them) you are saving money. All the prices go up, so buy the stuff on sale and use it and replace it you will always have the food and you will be eating it at last years prices.

The other things are important also, but in moderation, it due you little good if you have the best in one area and zero in another. Keep good tract of where you are and it will help you not to make double purchases and waste your money.

I believe that a monetary collapse is the most likely. Either hyper-inflation or a depression. The people of our Countries are not the same caliber (in character) as past generations, so if either of these things comes to pass, you will want to have well rounded program.

**Sourdough** · 02-26-2008, 01:15 PM

Not a problem..............Really. Just Inflate, Inflate, Inflate. The solution to everything is INFLATION. Then just change the color of the money and start all over. Easy.......

**Rick** · 02-26-2008, 01:18 PM

Hopeak. I read something on that very issue about a week ago and I think it was higher than that. If something isn't done it seems like the Feds would be unable to meet the interest payment by 2020 or something like that. I'll see if I can find that article.

**bulrush** · 02-26-2008, 01:18 PM

The number above does not include personal debt, like credit cards and mortgages. This is only the total US national debt divided by the total US population.

Each year the US spends more than it receives, the difference is added to the national debt. Interest is also added to the debt each year. The above number is all debt plus interest, since the US first started having debt (WWI?).

I heard on the radio last week that the average credit card debt per household in the US is like $18,000. That does not include mortgages or car loans either. That might sound high but on Dave Ramsey, people call in with $100,000 in credit card debt alone, so maybe it is a reasonable average.

**BraggSurvivor** · 02-26-2008, 01:25 PM

If you made minimum payment on say a 5K loan, it would take 26 years to pay it off.

Something has to burst......

**Rick** · 02-26-2008, 01:27 PM

Here's the article. 14%

http://query.nytimes.com/gst/fullpag...Deficit&st=nyt

By the way. For those of you that buy government bonds, remember, that's loan to the government.

**Rick** · 02-26-2008, 01:30 PM

It's a tough lesson to learn, Bragg but your are right on the mark. Financial prudence is the only responsible way to live. Tightening the ability to file for bankruptcy, tightening overall credit and increasing the minimums on credit cards were the right things to do in my book. I'm sickened by people who complain they have 10 credit cards and they are all maxed out. Who the heck's fault is that?

**trax** · 02-26-2008, 01:32 PM

Well, I've got that whole personal debt load/credit card thing figured out. I just don't bother paying them back, they whine for awhile and then they go away. Where'd I learn such a crafty tactic, you're wondering? Governments! Not our governments, just all the governments that our governments lent money to, hey if it works for them, why not?

And remember, you all just received this brilliant financial planning strategy for free, future lessons are going to cost you and I don't extend credit. Cash up front (hmmm, sounds like now I da ho

)