Why so green and lonely? Everything's going to be alright, just you wait and see.

Sunday, October 15, 2006

U.S. Debt Trivia

Having some fun perusing Wikipedia's page on U.S. public debt.
  • U.S. public debt on 30 December 2005 was $8,170 billion (or $8.1 trillion), which is nearly six times the amount of United States currency in circulation (M1 Money Supply), estimated to be $1,372 billion.
  • The debt equates to $28,412 per head of the U.S. population, or $58,390 per head of the U.S. working population.
  • Total U.S. household debt, including mortgage and consumer debt, was $11,400 billion in 2005.
So the U.S. government owes nearly as much as all individual U.S. citizens combined. Hmm.

Apparently there was recently a Canadian political party called the Canadian Clean Start Party, and their stated goal was to reset all outstanding public debt by simply defaulting on it. Responsibility is for losers. Hey it worked for Argentina right?


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