Debt in America: How Much in Debt is America?

16 trillion dollars. Wow. That’s a lot of indebtedness. If you want to see a live debt-tracking device with some more crazy numbers, check out the National Debt Clock. The National Debt Clock gives you the real-time numbers of debt in America. Another important figure to look at is the deficit, which is currently running at 1.1 trillion dollars. The deficit is the difference between the total amount spent by Congress and the revenue received by the IRS.

Debt stats

Also, the National Debt Clock can transport you into the past. You can see how much national debt there was at the beginning of Obama’s term and during Bush’s term. These tools may come in handy when it comes to figuring out who is to blame for debt in America.

When it comes to determining who is at fault for this mess, everyone is pointing the finger. The liberal is pointing at the conservative. The democrat is pointing at the republican. Well, the only person to whom I am going to point at is you. Who do you think is to blame? Perhaps a little data will help, according to the Record, the national deficit for 2012 was 1.1 trillion dollars, which marks an improvement over the previous year. An article from Record stated:

When it comes to deficit spending, neither Republicans nor Democrats, neither presidents nor members of Congress, have any place to hide. They are both culpable. They have both contributed to a massive problem that is not sustainable and is not getting any better. Or at least, much better. 

But don’t let Record determine the answer for you. To narrow the data down a little bit further, consider the following:

  • Federal spending increased to recoup the economy during the recession. A portion of the funds were spent on Obama’s stimulus initiatives.
  • Debt increased due to a decrease  in income and sales tax collections
  • Bush’s tax cuts increased the deficit
  • The wars in Afghanistan and Iraq also contributed significantly to the deficit

All of these reasons detail why the debt is currently 16 trillion dollars. According to the National Debt Clock, the debt per citizen is $34,079 and debt per taxpayer is $95,782. I don’t know about you, but I don’t have that amount in my checking account or under my mattress. So, I hope we figure something out soon. Dreamy and naive though it may seem, it’s time to stop pointing fingers and for both sides of the aisle to unite and fix this problem.  Whether you punch your voter card for Republicans, democrats or alternatives; the America we all love should be an America teeming with surplus.