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U.S. National Debt Is Equal To $53,000 Per American

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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.

Related: Are President Obama's Policies Driving Gun Sales Higher?

High national debt means rising interest rates, weak job markets and higher taxes.

Check out the full infographic for more information:

US National Debt
Source: Accounting-Degree.org

Posted-In: accounting-degree.org infographics national debtNews Global Economics Best of Benzinga

 

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