Since politicians removed the debt ceiling, THEY can keep spending until March 2017 there is not limit to what THEY can borrow.
Every citizen has a different story as to why they are, or are not in debt. An hour before I read this latest figure Sherry and I were talking. The subject came up because of all the e-mails I get about consolidating 'our debts' and how to get $1000 added to our SS checks by using some 'obscure and hidden IRS law'. Wipe out your debt in 6 months one e-mail YELLS! Advertisements are constant on Borrow and Pay. I love the term that has been used since the 1950s very successfully, "Use our easy payment plans." I learned at 17 yrs of age, there are NO EASY PAYMENT PLANS.
Sherry and I bought a mixer, it came with a small metal table for $29.95. Three easy payments of $12 a month. We lived TIGHT for 3 months, but it was a good lesson learned.
My daddy's belief was 'Never owe anyone', His exceptions were two things, a car or a house. The car was a necessity for a preacher, but you can bet he shopped around before he bought.
Sherry's mama and dad were the same. If you have to borrow to get it, you probably don't need it. I always respected Sherry's mama's resolve. Sherry's parents worked in a 'cotton mill', of course the wages were not high, but with her frugal management, Susie (Sherry's mom), built and paid for 3 houses, before retirement.
We were enforced with the idea, "You cannot spend more than you earn," and "Save something every payday even if it is fifty cents." We followed those rules and have lived relatively 'debt free'.
Now our government has different rules. Politicians have learned the more you spend and give away to your 'DISTRICT' the more likely you are to get re-elected to a cushy job! When you are not responsible for earning the money you spend (Politicians and TV Preachers) you can spend what you want. Like a kid turned loose in a candy store..
I am not gullible to think we can stop all the 'give away'programs immediately, but we sure could cut back on some of the FREE ICE CREAM THIS WEEK type things.
Trump and Sanders (like 'em or hate 'em) have stirred up something that 'smart politicians' (where are they?) Should have seen coming, the grass roots in both parties, are tired of 'Business as Usual'. We don't want our kids and greats to be saddled with this kind of debt:
Today the debt:
The estimated population of the United States is 322,293,396
so YOUR share of this debt is $59,021.44