A chart from the Republican side of the Senate Budget Committee shows that "U.S. Per Person Debt [Is] Now 35 Percent Higher than that of Greece.
"According to estimates from the International Monetary Fund, America’s total government debt will be $16.8 trillion by the end of the calendar year, compared to $441 billion for Greece," the Republican side of the Senate Budget Committee explains. "On a per person basis, that means U.S. debt is $53,400 for every man, woman, and child, compared to $39,400 for every man, woman, and child in Greece. The disparity between per capita debt in the U.S. and Greece has grown 40 percent (roughly $8,400) since 2011. Now, U.S. per person debt is 35 percent higher than that of Greece, and is also higher than per capita debt in Portugal, Italy, or Spain (which together with Greece make up the so-called PIGS countries)."
IMF calculates these figures based on total government debt, which is federal, state, and local government debt. IMF does not include intragovenmental debt, which is debt issued and owned by the federal government. However, Treasury data shows U.S. gross federal debt, including intragovernmental debt but excluding state and local debt, at $16.2 trillion, meaning that U.S. per person gross federal debt exceeds total Greek debt by an even wider margin (as well as that of every other Eurozone nation). Under the President’s budget, gross federal debt will rise to $25.4 trillion by 2022, according to White House projections. Meanwhile, Senate Democrats have refused to present any budget plan for consideration at all, skirting federal law.
Help Us Transmit This Story
Add to Your Blogger Account
Put it On Facebook
Tweet this post
Print it from your printer
Email and a collection of other outlets
Try even more services
Fatally Flawed: The Pursuit of Justice in a Suspicious Election
Voices of Opposition
Opposition to War, Racism and Oppression.
Basic Statistics for U.S. Imperialism
All Items Produced In House
The World Reacts...
See Hillary Clinton Make Fun of Gaddafi's Murder
Here is Israel's Crap Treatment of an American Jew
People participate in movements when that particular movement
(1) meets their concrete and tangible needs, (2) offers individuals real experiences in the movement's outcome (3) provides a sense of community, (4) makes available ongoing education and skills training and (5) shows direct and effective ways for people to take further action.
A loose interpretation of a message sent on Sunday, October 4th, 2009 by the Program on Corporations, Law & Democracy
A worker walks out of a factory building outfitted with nets, installed to prevent workers from jumping to their deaths, at a Foxconn factory, in Langfang, Hebei Province August 3, 2010. There have been nearly a dozen suicides at Foxconn plants around China this year alone, prompting calls for investigations into poor working conditions at the plants that make parts for customers such as Apple, HP and Dell. (REUTERS/Jason Lee) #
Portland 9/11 Truth Meetup Group and the Smell of Bacon
You can't have peace for the sake of peace. Peace is a consequence of an equitable arrangement.