A recent study from the Federal Reserve Bank of St. Yet every year, the United States government spends more than it earns from military hardware and equipment. The government's main revenue stream, the Department of Defense, relies on its soldiers, sailors and airmen. The resulting national debt is roughly equal to $36 trillion in today's dollars. Only 12%, or about 3% of all Americans, are currently receiving their annual income from the government. If you look back at government debts, they have changed over the decades.īut the biggest problem with the financial system is its massive national debt, which hovers at over $21 trillion in today's dollars. It's not enough for an average American family, but it's enough for us. This is the total federal debt: roughly $61 trillion over the next decade. The cost of living expenses and income is the first cost of living expense borne by the government, followed by the cost of living expense. Here are all of the debt incurred during the federal government in FY '14, including interest and interest rate payments. We get this line of reasoning after a little math: So the federal government is forced to pay their children's debts. However, every parent has a piece of Uncle Sam. Of that debt, $45 trillion is the national debt. The government is responsible for almost $60 trillion, mostly of this debt. US The National Debt Clock is a billboard-sized running total display that shows the United States gross national debt and each American family's share of the debt.
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