Sucking It Up and Paying It Off; Our Debt Goes Down While Uncle Sam's Rises

New Haven Register, 120917

http://nhregister.com/articles/2012/09/17/news/doc5057198c61b65714259401.txt

Fact: One reason for our sluggish recovery from the recession is what Americans are doing with their money: paying off old debt. Total American household debt is 17.5 percent lower than when the market crash occurred in 2008. From 2007 to 2010, the percentage of US households owing some kind of debt fell from 77 to 75 percent. Total households debt in this country now stands at $11.38 trillion. At its peak in 2008, it totaled $13.8 trillion.

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The national debt today is over $16.0 trillion and climbing.  Every man, woman, and child has over $51,000 in debt and every taxpayer owes over $140,000.  Out federal government is borrowing about $36,000 PER SECOND. 

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America owes China $1.2 trillion and its citizens almost $12.0 trillion, the balance of the debt is owed other countries. 

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Although we as citizens are carrying way too much personal debt, we are at least smarter than our government in that we are reducing that debt.  Perhaps it is time to replace all the politicians and bureaucrats with common sense people that have experience in real life and know how to balance a checkbook.