U.S. National Debt Update – August 2012

The US National Debt has increased by $46,233,894,979 since our last update on July 11, 2012.  Another month, and the United States has dropped another cool $46 billion in the hole.

National Debt as of 8/9/2012

$15,915,814,457,919

That is an increase of $1.594 BILLION PER DAY since our last update 29 days ago.

Whether we choose to address this problem as a nation or not, we WILL have to deal with it. We are really being faced with one of two decisions:

  1. Face the problem now by making some really tough choices  Like reducing some great programs or potentially eliminating some of them. NONE of us like to reduce spending. It is NO FUN. It STINKS. But we all have faced this in our personal finances before. Of course, we want to let our children participate in any activity they enjoy, but sometimes we have to say NO because of the costs! Of course, many people would love to have a huge house with every amenity known to mankind, but sometimes it is just not possible to maintain the financial burden required to maintain it!
  2. Let the problem fester until we are FORCED to make the tough choices  Whenever I have let the clock run out on tough financial decisions, I have found that my options have been severely reduced and the pain is much greater. I’ve always found myself saying, “I wish I had made this decision sooner.”

I wonder which decision the American citizens will make.

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