That is about $61,000 that every citizens owes. When you just count people who actually pay taxes, the number balloons to $165,621 per person.
$5 trillion of that debt is held by foreign governments, most notably China.
These numbers grow constantly and yet no President has ever put a serious stop it. Instead we are leaving trillions for our children to have to pay off. It is a giant monster that we are avoiding and leaving to future generations to handle, as this cartoon illustrates:
President Trump has said he will fight the national debt size, but we have every indication to not believe he will.
It isn’t his fault. Entrenched, deep state interests have rigged the system. They’ve worked hard and in secret to make sure the government coffers are overflowing right into their pockets.
President Trump hasn’t been afraid to call out greedy government contractors, but this isn’t enough. It will require a deep clean, a total destruction of the “administrative state,” and the dismissal of bureaucrats who have ran this country without any real accountability.
If we are serious about taking down the national debt it will require tough decisions. Cuts to Social Security, Medicaid, and other government benefits must be made. We have no choice. This isn’t going to be popular now, but our children will thank us when they aren’t dealing with a bankrupt and broken country. We have to think of the children.
The debt won’t be solved overnight, nor will it totally go away. But we can manage it and our billions we owe in deficit spending and unfunded liabilities.
Are we doing enough to counter the national debt size? Share your thoughts in the comments.