On Wednesday, the federal government's total debt exceeded fifteen trillion dollars. That's $48,000 in debt per citizen and over $133,000 in debt per taxpayer. Adding in all U.S. debt, including personal (mortgages, credit cards, student loans), plus government at all levels, the debt is approaching an incomprehensible $55 trillion, representing almost $661,000 per American family.
If you want to see just how literally big these numbers are, take a look at this screen shot from USDebtClock.org taken a couple of seconds after the fateful $15 trillion national debt was reached.
As Stein's law says, "If something cannot go on forever, it will stop." The question is how.
Please read the entirety of my article for the American Spectator here:
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