U.S. National Debt Is Equal To $53,000 Per American
United States national debt has exceeded $17 trillion, and two-thirds of the that is owed to the public, businesses and foreign governments, according to an infographic from accounting-degree.org.
The infographic tries to put the national debt (a number difficult for some to fathom) into perspective for the average citizen, saying the U.S. is in debt about $53,433 per American. That's slightly less than the median yearly household income of $55,030 for the U.S. in 2012, according to the U.S. Census Bureau.
Our debt-to-GDP ratio is 70 percent, which puts us below Germany (81 percent), Canada (85.4 percent) and the United Kingdom (88.7 percent). Generally, the lower the ratio, the better.
High national debt means rising interest rates, weak job markets and higher taxes.
Check out the full infographic for more information:
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