National Debt Tops $18 Trillion: Guess How Much You Owe?

[Chef Ramsay]

...
In 2004, the federal debt was $7.3 trillion. This rose to $10 trillion when the housing bubble burst four years later. Today it exceeds $18 trillion and is projected to approach $21 trillion by 2019. When you break this down to an amount per taxpayer, the numbers are substantial. The chart below contains this data which shows how it has more than doubled over the past 11 years, rising from $72,051 per taxpayer in 2004 to $154,161 today. As the debt continues higher, the liability of every taxpayer is also rising. The change in the amount of the federal debt per taxpayer from 2004 to 2015 represents an average annual increase of 7.16%. This is much more than the average annual wage increase during the same period.
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http://www.forbes.com/sites/mikepatton/2015/04/24/national-debt-tops-18-trillion-guess-how-much-you-owe/

I guess if we keep the front and back doors open and allow as many immigrants to come in and offer amnesty to the rest, we can spread the tab out more evenly. Anyone want to load up the truck and come settle down? The more the merrier at this point.

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[Spendulus]

...
In 2004, the federal debt was $7.3 trillion. This rose to $10 trillion when the housing bubble burst four years later. Today it exceeds $18 trillion and is projected to approach $21 trillion by 2019. When you break this down to an amount per taxpayer, the numbers are substantial. The chart below contains this data which shows how it has more than doubled over the past 11 years, rising from $72,051 per taxpayer in 2004 to $154,161 today. As the debt continues higher, the liability of every taxpayer is also rising. The change in the amount of the federal debt per taxpayer from 2004 to 2015 represents an average annual increase of 7.16%. This is much more than the average annual wage increase during the same period.
...

http://www.forbes.com/sites/mikepatton/2015/04/24/national-debt-tops-18-trillion-guess-how-much-you-owe/

I guess if we keep the front and back doors open and allow as many immigrants to come in and offer amnesty to the rest, we can spread the tab out more evenly. Anyone want to load up the truck and come settle down? The more the merrier at this point.

This problem is not a problem, because it is self correcting.  Look, the more of that money they print, the less it is worth.  Eventually our share of the debt is zero.

[Aggressor66]

We were going to get this kind of an increase no matter who occupied the White House. This is monetary policy!

[jaysabi]

The previous generations didn't pay their share. No real reason to expect we'll pay ours either.

[Chef Ramsay]

The previous generations didn't pay their share. No real reason to expect we'll pay ours either.

They sure are collecting their share these days tho. They're the lion's share of the voters that have allowed these politicians to entrench themselves so well and creating the permanent political class and their lobbyist backers.

[freemind1]

For this reason (among other things) each new generation accumulates more debt nationally and internationally. I think the Obama administration should take up the matter before the disaster it worse.

[panju1]

The previous generations didn't pay their share. No real reason to expect we'll pay ours either.

At some point, investors' appetite for US bonds may decrease. Then the music stops in this musical chairs game.

[NUFCrichard]

The previous generations didn't pay their share. No real reason to expect we'll pay ours either.

At some point, investors' appetite for US bonds may decrease. Then the music stops in this musical chairs game.

Only if the investors aren't the Fed or banks that are given trillions of dollars whenever their appetite starts to fade!
As that is wholely decided by the Fed, and thus the government, there is no reason for it ever to happen.  Hyper-inflation could happen, but it seems a long way away at the moment.

By the way, bitcointalk isn't just for Americans, I don't have any of the US national debt.

[Beliathon]

The previous generations didn't pay their share. No real reason to expect we'll pay ours either.

Everybody pays, but not everybody pays with the same currency.

The rich and powerful of every generation pay their share with freshly printed laws and banknotes, public promises and backroom deals.  Political theater.
The poor and starving of every generation pay theirs with suffering and death. Never ending mental torment and physical disaster, total corruption of both health and spirit. It's suicide, whether swiftly or slowly.

[Tusk]

Scary

http://www.usdebtclock.org/

[Lauda]

Scary

http://www.usdebtclock.org/

Very interesting website. I wonder if there is one that shows the expected debt for the next few decades.
In 2019 it will be over $20 Trillion. Just imagine how much money this is. It's actually an amazing amount when you think about it.

[pattu1]

Scary

http://www.usdebtclock.org/

Very interesting website. I wonder if there is one that shows the expected debt for the next few decades.
In 2019 it will be over $20 Trillion. Just imagine how much money this is. It's actually an amazing amount when you think about it.

It may be an amazingly large amount, but it will be deflated away eventually. 

[BADecker]

You don't owe any of it, if you don't want.

In the first place, the national debt is based on your "strawman" trust created for you using the birth certificate, at your birth. It is not you. But if government can convince you that it is you, well, they got you.

Nobody can apply the national debt to you personally. They base the Debt on the measurement of income taxes paid. Any time you want out of income taxes, file your W-4 or W-8, exempt, non-assumpsit, n-a, n-a, n-a, n-a, n-a... in all the boxes for everything on the forms. Sign it n-a John Doe (your signature).

Taxes are voluntary. The way you get into the system is by signing the quasi-contracts, W-4 and W-8. "Non-assumpsit" means "no contract." "Non-assumpsit" is what the "n-a" means that you always thought meant "non-applicable." Redo the W-4 and W-8 non-assumpsit exempt.

Watch all the Karl Lentz IRS videos at https://www.youtube.com/user/765736/videos?view=0&live_view=500&flow=grid&sort=da for the answers. In addition, DuckDuckGo and Youtube search on "Karl Lentz common law" for more answers than you have questions.