Do you pay federal taxes? If so then you owe $135,000

[ryoder]

Check it out. The US national debt is over 15 trillion dollars and each taxpayer owes $135,000 of that if we all split it evenly.
This is 5x the amount in 1987, 200 years into this nation's history.
U.S. National Debt Clock : Real Time

It is really sickening. Everybody start saving up money to pay China back because they have more foot soldiers than we do.

[frankiebleyes]

Look's like the irs is already trying to collect the $135,000 from tax refunds due to taxpayers for 2011. LOL glinch in irs computers causing many early filers to not get their refunds last week and many more to be checked for fraud. You should see the crap going on in the tax forums regarding the delays -- it is like they will die if they don't get their refund this week or next. I've filed but I'll get my refund when I get it. Never count on money u don't have in your hands already. When I worked I never got a refund but don't control withholding since retired. Oh well. Everyone have a good day.

[MomOfMany]

That is slightly under 3 times my dh's yearly salary.
And slightly more than what I owe on my house.

[abdibble]

I am 26 years old, i dont even make in the 30k's this is completly irresponsible,and politically crippling for any canidate..

[dcan]

I am 26 years old, i dont even make in the 30k's this is completly irresponsible,and politically crippling for any canidate..

No it's not. You just channel class warfare and demonize success and let the idiots vote you in. Works every single time.

[ryoder]

It is extremely sad. Those of us that are a bit older lived beyond our means. We paid somewhat low taxes, reaped massive benefits in education, healthcare, government investment, waged expensive wars foreign and domestic, paid way too much for infrastructure that went to unscrupulous companies and invested in pet projects like Obama's Solendra and you young people will have to ultimately pay the price. You will have crippling tax rates, underfunded social services, a skyrocketing interest rate on your debt and will probably take 100 years to pay off the debt we have accumulated in the past 20 years. It is sickening.

If any of you disagree. Just think how many years it takes to pay off your own reckless consumer spending over 1 year. I think the 5x ratio is realistic. It will be 100 years until this 16 trillion dollar debt is racked up. Obama alone added about 5 trillion since he gained control. Maybe its not all his fault but he certainly is not the model of restraint in spending. It is really sickening. What if China calls in our debt? What then?

[dcan]

What if China calls in our debt? What then?

This is actually the ending of the book How An Economy Grows... And Why It Crashes. Starring Ben Barnacle.

It uses simple cartoons very effectively, like Hayek's brilliant The Road to Serfdom from the 1940s.