CatholicOnline: You now owe more towards the federal debt than you will probably earn over the rest of your lifetime. Your individual liability is now 1.1 million dollars.
That’s $1,100,000 for every adult citizen in the U.S.
It gets worse. When you consider that about half of adult Americans actually pay anything in taxes, you realize that your liability is probably much closer to 2.2 million than the reported 1.1.
The national debt has just passed the $17 trillion mark with $7 trillion coming during the Obama administration’s tenure. Add the “Affordable” Care Act to the mix and we’re looking at trillions more because many Americans will enter the Medicaid system, Medicare patients are being dropped, and government subsidies are making up the difference. Read more here.
