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National Debt In The United States Essay

1099 Words5 Pages

• In 1980, the U.S. national debt was less than one trillion dollars. Today, it is rapidly approaching 17 trillion dollars
• During Obama's first term, the federal government accumulated more debt than it did under the first 42 U.S presidents combined.
• The U.S. national debt is now more than 23 times larger than it was when Jimmy Carter became president.
• If we started paying off just the new debt that the U.S. has accumulated during the Obama administration at the rate of one dollar per second, it would take more than 184,000 years to pay it off.
• The federal government is stealing more than 100 million dollars from our children and our grandchildren every single hour of every single day.
• In 1970, the total amount of debt in the United …show more content…

Today, less than 65 percent of all men in the United States have jobs.
• An astounding 53 percent of all American workers make less than $30,000 a year.
• Small businesses are rapidly dying in America. At this point, only about 7 percent of all non-farm workers in the United States are self-employed. That is an all-time record low.
• In 1983, the bottom 95 percent of all income earners in the United States had 62 cents of debt for every dollar that they earned. By 2007, that figure had soared to $1.48.
• The wealthiest one percent of all Americans have a greater net worth than the bottom 90 percent combined.
• According to Forbes, the 400 wealthiest Americans have more wealth than the bottom 150 million Americans combined.
• The six heirs of Wal-Mart founder Sam Walton have as much wealth as the bottom one-third of all Americans combined.
• According to the U.S. Census Bureau, more than 146 million Americans are either "poor" or "low income".
• According to the U.S. Census Bureau, 49 percent of all Americans live in a home that receives direct monetary benefits from the federal government. Back in 1983, less than a third of all Americans lived in a home that received direct monetary benefits from the federal

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