The latest reading of the total US Federal debt — including social security obligations — comes in at a whopping $7,161 billion. Even at a lowly interest rate of 3.5%, this would cost every one of the estimated 107.8 million private sector workers around 4 1/2 weeks’ wages to service, much less to pay down. In the past 12 months, the total has risen by an inordinate 10.8% — or by $700 billion. This equates to around $97,000 (approximately two whole annual median family incomes) for every second of every eight hour working day.
Thus, Dubya and the NeoCons have run up more debt in just this one past year than ALL their predecessors cumulatively managed in the first 200 years after the Declaration of Independence. Do you think even that arch-perverter of the Free Republic, Alexander Hamilton might allow this was a touch ‘excessive’, rather than a ‘national blessing’!
