Yesterday the USA Today reported the National Debt at $546,668 per household, including a 12% increase in 2008 alone. According to White House documents, the budget won’t run in the black until the year 2012 (PDF pg. 26). However, that increase in revenue is predicated on a 21% increase in GDP between 2009 and 2012 (PDF pg. 29), a particularly rosy scenario given the current circumstances.

“Bottom line: The government took on $6.8 trillion in new obligations in 2008, pushing the total owed to a record $63.8 trillion.”

Read the whole USA Today article here.

This entry was posted on Friday, May 29th, 2009 at 11:20 am and is filed under Blog Posts, Limited Government. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.