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Chart of the Week: Each American's Share of National Debt is Growing
Posted By Abigail White On July 17, 2011 @ 10:51 am In Scribe | Comments Disabled
Throughout the debate over the debt limit these past few weeks, Americans have become increasingly alarmed with our nation’s staggering $14.3 trillion debt. Many might wonder how the government is ever going to repay its mounting debt.
Unfortunately, that responsibility will fall to the Debt-Paying Generation  (ages 5-30). Currently, every citizen owns $31,871 of the national debt, but each American’s share of national debt is growing . If current spending patterns continue, by the time 5-year-olds are 45, they will each be responsible for $279,738 of the debt.
Bill Beach, director of Heritage’s Center for Data Analysis, warns that the 115 million Americans in the Debt-Paying Generation  could end their lives as the least improved generation. Without a doubt, the mounting debt will reshape the lives of future generations.
Article printed from The Foundry: Conservative Policy News from The Heritage Foundation: http://blog.heritage.org
URL to article: http://blog.heritage.org/2011/07/17/chart-of-the-week-each-americans-share-of-national-debt-is-growing/
URLs in this post:
 Image: http://www.heritage.org/budgetchartbook/national-debt-burden
 Debt-Paying Generation: http://www.heritage.org/research/reports/2010/09/will-growing-government-debt-undermine-the-american-dream
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