Infographic title: $19000000000 plus National Debt and Counting
What is the national debt?
The national debt is the total of all the past years’ budget deficits, minus what the government has paid off with budget surpluses.
Government spends more than it collects in taxes
Government spends less than it collects in taxes
The total of all past budget deficits, minus what has been repaid with surpluses.
Numbers about our national debt
As of Feb 2016, the US National debt is $19 trillion +. The debt ceiling set in late 2015 is $18.9 trillion. March 2017 is the date congressional negotiators and the White House will revisit the “suspended” federal debt ceiling. The estimated population of the United States is 322,429,367. Each US citizen’s share of our approximate debt is $59,119.
What is the debt ceiling?
The debt ceiling is the legal limit set by congress on the total amount by the US treasury can borrow. Chart showing the increasing US debt ceiling under George H W Bush, Bill Clinton, George W Bush and Barack Obama: it shows the debt ceiling rise from about $4 trillion in 1990 to around $19 trillion in 2016.
Who owns the US national debt?
A bar chart shows the following approximate numbers. 30% by US individuals and institutions, 15% by the US social security trust fund, 14% by the US federal reserve, 14% by all other foreign nations, 8% by China and Hong Kong, 7% by Japan, 5% by the US civil service retirement fund, 3% by the US military retirement fund, 2% by oil exporters, 2% by Belgium, 2% by Brazil, 2% by the United Kingdom.
Important Facts to Remember
The debt it took the US 231 years to create from 1776 to 2007 will have doubled in ten years (2007-2017). By removing itself from the gold standard in 1971, the US gave itself permission to print money as desired, without consequence. In November of 2015, the US’s cavalier spending policy prompted the IMF to accept Chinese Yuan into the IMF’s foreign exchange basket.
What does that mean to me?
The above facts clearly pave the way for the US Dollar to be replaced as the World’s Reserve Currency. What this means to the average American is that literally overnight our currency could be deemed worthless on a global basis, spawning the most profound transfer of wealth in history.
What to do?
Buy gold! It is the only asset class with a brilliant history of appreciation during a currency collapse or a stock market sell-off! You can easily convert your cash US dollars or retirement funds into physical gold. Today, owning gold is made really simple. Image of Mark Twain saying, Don’t wait to buy gold, buy gold and wait.
Infographic provided by
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