Congress admits to having already spent $21.5 trillion (that’s $21,500,000,000,000.00) they don’t have. If you are a taxpayer, your share is a little over $58,000. What your senators and representatives would rather you didn’t know is that our reported debt is like an iceberg: what you see is only the tip. 90 percent of the iceberg lies under the surface.
The dirty little secret is that we are obligated to pay around $115 trillion – on top of the national debt – to programs like Social Security, Medicaid, and Medicare.
Altogether, the U.S. federal government has run up a $136.5 trillion bill that will have to be paid, using figures from
Accounting for the unfunded liabilities, every single taxpayer in America is currently on the hook for just under $1 million dollars. And that doesn’t count the $10 trillion or so of local and state debt and unfunded liabilities.
Interestingly enough, our government spends money about as fast as the Voyager 1 space probe can travel (38,000 mph).
If you laid out 136.5 trillion $1 bills, it would stretch 13 billion miles into space.
It took Voyager 1 around 40 years to travel 13 billion miles.
You know you have a spending problem when your debt extends beyond the solar system.
You know you have a spending problem when your debt extends beyond the solar system. Congress admits to having already spent $21.5 trillion (that’s $21,500,000,000,000.00) they don’t have. If you a…