The U.S. top position in the world is slipping.
China's GDP exceeding our own is but one example.
India too is prospering, and before the end of the decade Japan may again ascend.
U.S. NATIONAL DEBT CLOCK
The Outstanding Public Debt as of 30 Jun 2015 at 12:28:15 PM GMT is:
$ 1 8 , 1 6 0 , 2 2 6 , 0 9 7 , 2 2 5 . 5 4
The estimated population of the United States is 320,885,664
so each citizen's share of this debt is $56,594.07.
bold emphasis Lm's
http://www.brillig.com/debt_clock/
The Outstanding Public Debt as of 30 Jun 2015 at 12:28:15 PM GMT is:
$ 1 8 , 1 6 0 , 2 2 6 , 0 9 7 , 2 2 5 . 5 4
The estimated population of the United States is 320,885,664
so each citizen's share of this debt is $56,594.07.
bold emphasis Lm's
http://www.brillig.com/debt_clock/
This stat. highlighted in bold is a per capita stat.
Factor out the young, the old, the imprisoned whose net worth is insufficient, and the cost per citizen who is actually in a position to pay may exceed $100K.
Do we really need NASA space adventures?
I'm not advocating technological troglodytism.
But my sources indicate we can accomplish pretty much the same thing with unmanned probes that we could with manned missions; but for about $one $tenth the price.
We spend a $Billion inventing Tang, and the whole world gets to drink it.
Why don't we let Russia, or China invent Tang the next time?
And how many aircraft carrier battle groups do we really need?
The U.S. is a NATO member nation.
If the U.S. is attacked, it is NATO's treaty obligation to come to our defense.
So why must the U.S. $spend more on $military, not only than any other NATO member nation; but more than all the ~27 other NATO member nations, COMBINED?!
Multiple issues here:
- What are our essential spending priorities?
- What spending can we / should we reduce or eliminate *?
And how can we stop being lied to about it?
"You and I as individuals can, by borrowing, live beyond our means, but for only a limited period of time. Why, then, should we think that collectively, as a nation, we are not bound by that same limitation?" Ronald Reagan's First Inaugural Address, 1981
Reagan talked a great game.
But Governor Reagan criticized President Carter for increasing the U.S. federal debt.
But President Reagan not only ran up more federal debt than the Democrat he criticized. Reagan ran up more U.S. federal debt than all the other U.S. presidents before him, COMBINED!
So what shall we do? A balanced budget amendment? (BBA)
A grass-roots campaign to elect Rand Paul?
What can U.S. citizens do as individuals, to fix this?
* Perfunctory and insignificant budget cuts or revenue enhancements won't suffice.
Balancing the budget would be nice; but even that's not enough; for we still have over $18 $Tril in $debt that should be paid off.