Here are some facts I found interesting about United States Federal Debt.
- 1835 The last time the U.S. federal government was “debt-free.” That’s a LONG TIME to be in debt!
- Prison People used to go to PRISON for not repaying debts. It isn’t possible to put a government in prison.
- It’s been worse The U.S. was in more debt (as a % of GDP) at the end of World War II than it is right now. There’s hope!
- Zombie Debtor A British term for people who make “interest-only” payments.
- $52,203 Amount of debt owed by each U.S. citizen if the debt were split equally.
- $50,100 Average amount of debt currently owed by each U.S. citizen – including mortgage, credit cards, student loans, vehicles, etc.
Which one of these do you find most compelling/interesting?