U.S. Public debt to reach $18 Trillion
Peter Walden, News Editor
1 Dec 2014, 10:58 a.m.
At some point within the next two to three weeks total U.S. public debt will exceed $18 Trillion.
Since the start of the 2015 fiscal year the U.S. national debt on average has expanded by $2.08 billion per day. Once the national public debt reaches $18 Trillion each U.S. household will be on the hook for $124,275 which is up from $81,984 in 2008.
The $18 Trillion debt figure excludes all state and private debt such as mortgages, car loans, student loans and credit cards.
In the UK total public debt stands at £1.45 Trillion which equates to £50,401 per person in employment or £22,611 for every man, women and child in the UK.