National debt is at $545,668 per household and growing!
National debt at $545,668 per household
Published: May 30, 2009 at 2:51 PM
WASHINGTON, May 30 (UPI) — Federal debt last year amounted to a record $545,668 per U.S. household — a 12-percent spike in just one year, government sources said.
The increase burdens each household with an additional $55,000 in national debt for just 2008, USA Today reported Saturday.
The increase can be pinned on the explosion of federal borrowing during the recession and an aging population that is driving up the costs of Medicare and Social Security.
No government can live with that burden without taking unprecedented action at one point.