Monday, June 01, 2009

What we owe

Per USA Today (h/t The Atlantic):

That's the biggest leap in the long-term burden on taxpayers since a Medicare prescription drug benefit was added in 2003.

The latest increase raises federal obligations to a record $546,668 per household in 2008, according to the USA Today analysis. That's quadruple what the average U.S. household owes for all mortgages, car loans, credit cards and all other debt combined.

This is from an anlalysis for 2008! Where are we going?

[Ed. note: for some reason I can't cut and paste text so any errors in quotes are mine.]


Stephanie said...

To give a sense of scale, just want to note that this article say this is a 12% increase over 2007.

Scooter said...

You're right but the gross numbers are pretty staggering. The debt was RR's bigggest concession and he was hammered for it.