How much of $13.029 trillion do YOU owe?

[The Seer]

The Senate passed this resolution that would raise the federal debt limit to $13.029 trillion.

A trillion is so big a number it's hard for me to grasp it so I tried to divide it down to one person and failed. My calculator does not go that high.

Can someone do the math for me please. Not kidding, I cannot do it. I cannot tell if its 4 million or 40,000 per person which sounds too low. Figure a population of 325 million.

 

[BCTTWR]

Re: How much of $13.029 trillion do YOU owe?

Its 6 figures. I think its $328,000 per person. Half the people do not even pay federal income tax.

I hope I am here for the revolution.

 

[ACCC]

Re: How much of $13.029 trillion do YOU owe?

The Senate passed this resolution that would raise the federal debt limit to $13.029 trillion.

A trillion is so big a number it's hard for me to grasp it so I tried to divide it down to one person and failed. My calculator does not go that high.

Can someone do the math for me please. Not kidding, I cannot do it. I cannot tell if its 4 million or 40,000 per person which sounds too low. Figure a population of 325 million.

13,000,000,000,000/325,000,000 = about $40,000

 

[The Seer]

Re: How much of $13.029 trillion do YOU owe?

13,000,000,000,000/325,000,000 = about $40,000

thank you. I thought it would be much higher. At 6% interest that is only $200 per month interest per person if everyone pays.

 

[Joe Contrarian]

Re: How much of $13.029 trillion do YOU owe?

http://www.usdebtclock.org/

 

[BCTTWR]

Re: How much of $13.029 trillion do YOU owe?

thank you. I thought it would be much higher. At 6% interest that is only $200 per month interest per person if everyone pays.

It is much higher. Its over 6 figures. If you are going to count people that are getting a pension, and people who do not work and don't pay taxes, you might as well count people in China and get the average down to $100 per person.

 

[The Seer]

Re: How much of $13.029 trillion do YOU owe?

It is much higher. Its over 6 figures. If you are going to count people that are getting a pension, and people who do not work and don't pay taxes, you might as well count people in China and get the average down to $100 per person.

That is what I thought. I posted that sort of as a joke. I have seen charts of the unfunded Social Security debt, Bond debt, Medicare debt, Money derivatives debt, and the list went on and on until the number of trillions was getting to go over 999 trillion.

Which brings up the next thing I do not know, what is the name of the number = to 1000 trillion?

 

[tank]

Re: How much of $13.029 trillion do YOU owe?

It is much higher. Its over 6 figures. If you are going to count people that are getting a pension, and people who do not work and don't pay taxes, you might as well count people in China and get the average down to $100 per person.

It is divided among the 325 million Americans.Of course not all of them pay taxes so it does not matter.A 5 year old owes the same as a 40 year old.It comes out to about 40 k per person.
Now if your figuring it out for only the taxpayers and how much they owe then it will be a lot higher, but I thought this was for every American?

 

[brucefan]

Re: How much of $13.029 trillion do YOU owe?

It doesnt matter, it wont ever be paid be paid back. Its all monopoly money at this piont.

We have crossed over the point of no return

There are only 2 choices, default and reorganize, or pay the debt back in worthless currency

Thats it, you choose ( or China , you choose )

 

[Joe Contrarian]

Re: How much of $13.029 trillion do YOU owe?

Thank you socialism. 2938u4ji23

 

[The Seer]

Re: How much of $13.029 trillion do YOU owe?

I thought this was for every American?

I was hoping someone could go through the gobbledygook to figure out the how much YOU owe?

Clearly the cartoons of a just born baby, who says "I owe how much?" are spot on target. The impossible number for me to figure out is take the 325 million and I could likely find the taxpayers which are about 125 million. But it gets impossible to figure out with all of the four sets of books we keep. My bet, if the current Congress is not replaced, its pay with 1928 Deutschmarks where a basket of paper money was worth more as scrap.

 

[tank]

Re: How much of $13.029 trillion do YOU owe?

I was hoping someone could go through the gobbledygook to figure out the how much YOU owe?

Clearly the cartoons of a just born baby, who says "I owe how much?" are spot on target. The impossible number for me to figure out is take the 325 million and I could likely find the taxpayers which are about 125 million. But it gets impossible to figure out with all of the four sets of books we keep. My bet, if the current Congress is not replaced, its pay with 1928 Deutschmarks where a basket of paper money was worth more as scrap.

For every American then it is around 40k.For every taxpayer it is around 120k.To make it really get sticky what about the illegal immigrants that are not counted???

 

[brucefan]

Re: How much of $13.029 trillion do YOU owe?

Zippidy do do, zippidy ay, my oh my what a wonderful day

Why let facts get in the way of good party!





Tuesday, March 30, 2010

2013: US Debt To Exceed 17.8 Trillion


(snippet)
And as of today, China is a net seller of Treasury debt. If we can't fund our debts in the bond market, the Federal Reserve will be forced to monetize our deficits by buying Treasury bonds. If that happens, inflation will soar and the price of gold will double or triple almost overnight.


The bigger problem, over the long term, is simply debt service. Right now, the federal government takes in roughly $1 trillion in income taxes and a much smaller amount of money in other fees, duties, etc. (The government takes in another $1 trillion from Social Security and Medicare taxes, but it spends more currently on these programs than it takes in. So as a result, this revenue can't factor into our analysis of debt service.) At the end of 2009, the federal government had $11.8 trillion in total outstanding debt. That's the official number.


Likewise, officially, the interest we paid last year made up 11% of the government's revenues ? but that measure included all of the social insurance premiums as tax. More importantly, the current budget doesn't include a number of highly significant obligations that are actually the government's responsibility, but are held "off balance sheet."


... By the end of OBAMA!'s first presidency (2013), I believe the U.S. will owe roughly: $17.8 trillion in federal debt, $2 trillion in GSE debt/guarantees, $500 billion in FDIC obligations, and $500 billion in FHA obligations. My only big assumption is $1.5 trillion in additional deficits each year, which is what the president's budget also predicts.
More Here..

 

[brucefan]

Re: How much of $13.029 trillion do YOU owe?

US Ends June With $13.2 Trillion In Debt, Adds $210 Billion In Total Debt, On Track To Breach Debt Ceiling In Under Six Months<SUP></SUP>

Submitted by Tyler Durden on 07/06/2010 16:25 -0500



In case one is wondering why the House Democrats attached a document to the emergency war supplemental bill that "deemed as passed" a non-existent $1.12 trillion budget, which basically allows the ruling party to start spending money for Fiscal Year 2011 without the constraint of an actual budget, here is the answer: on June 30, the US closed the books with just over $13.2 trillion in total debt, an increase of $210 billion in one month, or $2.5 trillion annualized. There is just $1.1 trillion left on the ceiling. As we have long been warning, at the current run rate, the ceiling will be breached in under six months, or just around November 2. More disconcerting is that the monthly debt roll continues to be in the "ridiculous amount" category, hitting a total of $660 billion, of which $583 billion was rolling off Bills (we are not sure what the $19 billion im "GSE investment" was for, but we are fairly sure the words Ponzi and Perpetuation are part of it). Of course, if America knew that according to the Obama non-existent budget the debt ceiling would be breached in 2010, it may not have a favorable reception among those few who are still willing to vote for either party of the bipartite farce that passes for a government.

 

[KingRevolver]

Re: How much of $13.029 trillion do YOU owe?

Interesting figures.

 

[Doug]

Re: How much of $13.029 trillion do YOU owe?

That is what I thought. I posted that sort of as a joke. I have seen charts of the unfunded Social Security debt, Bond debt, Medicare debt, Money derivatives debt, and the list went on and on until the number of trillions was getting to go over 999 trillion.

Which brings up the next thing I do not know, what is the name of the number = to 1000 trillion?

1 quadrillion