-->

• The US National Debt is the amount of money that the US Government owes any number of creditors at given time. A large part of the debt can be attributed to money borrowed by the government in times of a federal deficit. It is often called the "public debt" not because the public is responsible for the occurrence of debt, but because the public is responsible for repaying it.Amoritization: National Debt

• Fast Facts

  1. The current National Debt exceeds $9.4 trillion
  2. The per capita debt exceeds $30,000
  3. Increases by $1.5 billion daily
  4. • United States (Government)
  5. • United States (Citizens)
  6. • Japan
  7. • China
  8. • United Kingdom
  9. Congress set a national debt limit of $9.815 trillion
  10. Debt has grown from $5.6 trillion to $9.4 trillion during the Bush Administration

• "Passing The Buck"

  The growth of the debt has invited criticism of Congress and the Bush Administration. Critics have claimed that politicians have mortgaged the future for the sake of leveraging the political agenda of the present.House.gov: Our National Debt is Future Generation's Load to Bear (August, 2007)

• Related Mahalo Pages

  Federal Deficit | Federal Reserve | Balanced Budget Amendment | Trade Deficit | Governement Spending | The war in Iraq | President Bush

Categories

• View History
• Discuss on the Message Board
• Embed this Page
• Share this page