End of US?

The US debt is getting close to 12 TRILLION. The PROJECTED deficit for the next 10 years was just raised to 9 trillion. So unless something changes the national debt will be 21 trillion at that time. The USA GDP is only 14.3 trillion. Pretty soon we are gonna have more debt than we can pay off in a year if all we did was pay off debt. The interest alone on 21 Trillion will be close to a trillion bucks per year.

Currently the US debt per citizen is $38,000. Private debt per citizen (credit cards, mortgages etc.) is $24,000. So the US needs $62,000 per citizen to be debt free. Per capita income (average income) in the US is $40,000. Good luck paying off the $62,000 per.

What gets really scary is when you look at the unfunded liabilities of Medicare, Social Security and the new Federal Presciption Drug buy plan we now have. The government will need to drain $192,000 per person to fund those programs at the current benefit rate.

So a grand total of $254,000 per person is needed presently and they want to add another 9 Trillion in debt to our bill. A quarter of a million dollars per person or we are fucked.

We're Fucked.