American Households $12,984 Closer to the Fiscal Cliff
Terence Jeffrey wrote at CNS News last week that since March 2, 2011, when “the White House and leaders of both parties in Congress” agreed to “a continuing resolution to keep the government funded past March 4, “the federal debt has climbed from $14,182,627,184,881.03 to $15,708,753,671,767.64 . . . an increase of $1,526,126,486,886.61.”
Jeffrey then takes that $1.53 trillion and divides it by the number of households reported by the Census Bureau. He writes:
“Given that the Census Bureau estimates there are about 117,538,000 households in the United States, the per household increase in the federal debt since Congress enacted its March 4, 2011 bipartisan spending deal has been approximately $12,984. (emphasis added)
Want to know more about the ‘fiscal cliff’ as some call it? Some talk of Boomergeddon, which Jim Bacon defines as “the day investors stop buying U.S. Treasuries — the day the U.S. government goes into default, the global economy is thrown into turmoil, the American empire begins to crumble, and the social safety net starts to unravel.” For more about Boomergeddon, check out Jim’s book at Barnes & Noble; here’s the cover:
