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IPFS News Link • Economy - Economics USA

Total Government And Personal Debt In The U.S. Has Hit 41 Trillion Dollars ($329,961.34 ...

• theeconomiccollapseblog.com by Michael Snyder

In 1980, total government and personal debt in the United States was just over the 3 trillion dollar mark, but today it has surpassed 41 trillion dollars.  That means that it has increased by almost 14 times since Ronald Reagan was first elected president.  I am searching for words to describe how completely and utterly insane this is, but I am coming up empty.  We are slowly but surely committing national suicide, and yet most Americans don't even understand what is happening.

According to 720 Global, total government debt plus total personal debt in the United States was just over 3 trillion dollars in 1980.  That broke down to $38,552 per household, and that figure represented 79 percent of median household income at the time.

Today, total government debt plus total personal debt in the United States has blown past the 41 trillion dollar mark.  When you break that down, it comes to $329,961.34 per household, and that figure represents 584 percent of median household income.

1 Comments in Response to

Comment by PureTrust
Entered on:

There isn't any personal debt. There is only treachery in loan wording. When a person signs a piece of paper to get a loan, do you think the lender is stupid enough to give the loan without something to back it? The fact that the lender gives the loan shows that there is value in the piece of paper with the signature on it. So, it really isn't a loan. It is simply a trade, one form of value for another. No real personal loans out there. All a bunch of messing with the minds of people to get rich off their labor.



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