The national debt is now $22 trillion. Justin Bogie writes:
At more than 107 percent of gross domestic product, as a share of the economy the gross national debt is higher than it has been since 1947. The debt has been higher only three times in U.S. history, all in the immediate aftermath of World War II.
If the national debt were divided among every person in the U.S., each of us would owe more than $67,000.
Although those numbers are staggering, they are projected to get worse.
The CBO’s latest budget and economic projections estimate that over the next decade the country will add another $12.2 trillion in debt. That’s almost $30,000 in new debt per person on top of the $67,000 already owed.
[Justin Bogie, “Our National Debt Just Hit $22 Trillion. Will Congress Finally Take It Seriously?” The Daily Signal, February 13]
