Wednesday, June 20, 2007

You Owe $516,348. Pay Up...or Make Your Grandchildren Pay

"Bottom line: Taxpayers are now on the hook for a record $59.1 trillion in liabilities, a 2.3% increase from 2006. That amount is equal to $516,348 for every U.S. household. By comparison, U.S. households owe an average of $112,043 for mortgages, car loans, credit cards and all other debt combined."

Taxpayers on the hook for $59 trillion -

Come on folks. Is any of this sinking in yet? Do you realize these debts are going to come due sometime? Do you realize we are just pushing them out to our children?

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