April 6, 2021 | US National Debt of $28 Trillion Puts Each Person in American on the Hook for $85,210 | NeedToKnowNews | Source
“Both Democrats and Republicans in the US Congress have failed the American people by over spending and leading the US on the path to bankruptcy and disgrace. According to the Treasury Department, interest payments on the debt totaled $522.7 billion in FY2020 alone. The federal debt is over $80,000 dollars per capita, which is about 50% more than the median income in the country. Spending and services cuts, plus increased taxes, are on the horizon. Republican Mo Brooks illustrated the problem by saying, “I want the American citizenry to ask themselves, can you write a $90,000 check right now? Okay, can you do it for your family of four? That’s $360,000 Oh, wait a second. If you happen to be doing well enough to actually earn enough money to pay income taxes, then you’ve got to pay for all those who can’t. So double it –– that $720,000 is the average debt burden of each family of four in the United States of America.””
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