Michael Snyder reports on seventeen statistics on the unsustainable nature of reckless U.S. government spending and debt.
1. As of December 28th, 2010, the U.S. national debt was $13,877,230,355,933.00.
2. If the federal government began right at this moment to repay the U.S. national debt at a rate of one dollar per second, it would take over 440,000 years to pay off the national debt.
3. If the federal government began repaying the national debt at a rate of $10 million dollars a day it would take approximately 3,800 years to pay off the national debt.
4. Today, the U.S. national debt is increasing by roughly $4 billion every single day.
5. The U.S. government is borrowing approximately $2.63 million more every single minute.
6. On September 30th, 1980 the U.S. national debt was $907 billion. Just thirty years later, the U.S. national debt is over 14 times larger.
7. According to a recent U.S. Treasury report to Congress, the U.S. national debt will reach $19.6 trillion in 2015.
8. It is being projected that the U.S. government will be paying $900 billion just in interest on the national debt by the year 2019.
9. A trillion $10 bills, if they were taped end to end, would wrap around the globe more than 380 times. That amount of money would still not be enough to pay off the U.S. national debt.
10. The U.S. Congress has raised the federal debt ceiling six times in just the past three years.
11. The 111th Congress added more to the U.S. national debt than the first 100 U.S. Congresses combined.
12. The 111th Congress got us into so much new debt that it breaks down to $10,429.64 for each of the 308,745,538 people counted by the 2010 U.S. census.
13. The U.S. government currently has to borrow approximately 41 cents of every single dollar that it spends.
14. When you break down the debt that the U.S. government owes to China alone it comes to over $10,000 for every single American family.
15. If you were alive when Christ was born and you spent $1 million every single day since that point, by 2010 you still would not have spent $1 trillion. Almost unbelievably, the U.S. government will accumulate well over $1 trillion more debt in 2011.
16. If right this moment you went out and started spending one dollar every single second, it would take you more than 31,000 years to spend $1 trillion.
17. The Congressional Budget Office is projecting that U.S. government debt held by the public will reach a staggering 716% of GDP by the year 2080.