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Shocking Facts About the US Debt

Shocking Facts About the US Debt- you really need to read this!

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Shocking Facts About the US Debt

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  1. 1. The US national debt was under $1 trillion when Ronald Reagan was president. This amount has increased more than tenfold in the modern day. In a span of just 30 years, the national debt has exploded to huge amounts that seem nearly unstoppable. 2. Under the Obama administration, the national debt has expanded to more than all of the debt combined from the George Washington administration up to the Clinton administration.

  2. 3. More than one third of all of the debt in the world is the responsibility of the US government. This is largely because of such a huge trade deficit. 4. Nearly half of all US households receive government benefits in some form. This is up from around 30% in 1983 and is a contributing factor to the ever increasing debt. 5. One trillion $10 bills could be taped end to end and wrap around the globe 380 times, but even that would not end up being enough to pay off the debt.

  3. 6. The Federal Reserve was created in 1913. The US national debt is now 5000 times larger than when this institution first came into being. 7. Bill Gates could put his entire net worth into fighting the national debt and it would only cover 15 days worth of that debt. 8. It is projected that the US national debt will increase over $23 trillion by the year 2015.

  4. 9. The US debt surpassed 100% of the GDP number for the first time ever in 2011. 10. In the first two years of the Obama administration there was more debt added than all of the first 100 Congresses combined. There are endless ways to show just how vast the US national debt has become. Despite all of this, many people are still seriously underestimating the importance of the debt situation going forward. The truth of the matter is that the world has never faced debt issues on this level, and it is unclear exactly how things will play out. It should be noted that the US is not the only country with debt issues, but they are certainly in the worst spot with it. It will be interesting to see where things go with this in the near future. What the world does in reaction to this problem could shape world politics for generations to come.

  5. My sources: http://www.fixthedebt.org/subcampaigns/debate-the-debt/ http://ezinearticles.com/?Shocking-Facts-About-the-US-Debt&id=6813688/

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