Happy Halloween from Friends of the U.S. Chamber. An article out last week shows that as of today, the average American's share of government debt is more than the average American makes in a year.
Talk about scary.
As the Daily Caller says:
As children across America costume themselves as ghouls, ghosts, goblins and former North African dictators Monday night, they may have missed the most spine-chilling scare of the day. According to calculations based on the International Monetary Fund’s World Economic Outlook, on All Hallows’ Eve the United States’ total debt will surpass its Gross Domestic Product for the first time since World
That means the average American’s share of government debt is more than an average American makes in a year. Spooky!
As Bloomberg put it, “America’s bills are about to exceed its paycheck.
The Bloomberg calculations, based on IMF data from the September World Economic Outlook, showed that by 2016, debt will exceed per capita production by $8,000.