Congrats, everyone! The government has managed to do something "ahead of schedule"!
That thing might be spending your great-grandkids' money, but I've been told we don't need to worry about that. It's not like an unfathomable amount of debt could collapse our civilization and usher in a new Dark Age.
This momentous event happened Tuesday afternoon. While you were sleeping, we've added another $5 BILLION to the debt clock.
If adding a few billion dollars to our debt each night isn't scary enough, look at the rest of the chart above.
- Each one of your reading this – and every member of your family – owes $90,221 to a wide variety of foreign governments and actors.
- If you have a job, you owe $239,000, since your 3-year-old won't be able to pay off their $90,000.
- If the government were a man making $40,000 a year, he'd be spending $70,000 – adding $30,000 in debt annually on new boats, cars, and other flashy toys.
- From 1960 to 2000, our debt-to-GDP ration (what we owe compared to what we make and earn), fluctuated between 34% and 59%. It's now 128% and climbing higher.
Here's now things have progressed since your grandpappy defeated the Krauts on the shores of Normandy:
Anyway, you didn't come here for the economics lesson. You came here to wallow in bitter laughter with your fellow man at the fiscal cliff we have long since hurtled ourselves over!
Some people calculated what you could buy with this kind of money.
Meanwhile, the GOP was super-duper angry because they want to crash the nation into the ground at 1,200 mph instead of the current 1,400 mph the Democrats are proposing:
Since this is more important and urgent than anything else in the news right now, I'm sure Americans will stop obsessing over Joe Rogan, Whoopi Goldberg, and the Covid sniffles and get to work on solving this, right?
Oh well.
