Is our government broke?
The US is in Debt. The estimated population of the United States is 308,958,882 so each citizen's share of this debt is $43,238.51. The National Debt has continued to increase an average of $4.12 billion per day since September 28, 2007!
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About National Debt
The US National Debt is the measure of obligation the federal United States government owes. As of December 31, 2010, the total debt outstanding was $14.03 trillion dollars. The debt has increased over $500 billion ever year since 2003, with excess of $1 trillion since 2008.
About Debt
Debt is an obligation to pay someone back, either in money or other goods. Before the recession of 2008 and the financial meltdown, many people and corporations took on so much debt that their houses were foreclosed and their companies failed or had to be sustained by the government until they got back on their feet. (An example is General Motors.)
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