I took a look at the debt clock this morning! According to the debt clock, this means that on average, each American owes $55000 in debt. This is for each person, so a family of four owes $220,000 towards the debt.
But wait! Only private workers actually pay taxes. That’s right, only private workers. You see, workers on the public payroll only forward taxes to the government, but every penny they pay in taxes first came from a private worker. Take away the private worker, and there is no money to pay the government employees.
According to the Bureau of Labor Statistics, there are only 134 million private workers in the US. So all of the debt lands on this 134 million, making their debt $130,000 for each private worker.
Then of course, there are all the people on welfare. At the end of 2011, there were more people (108 million) on welfare than people working. Being the grocery shopper in the family, it looks to me like the people on welfare are living better than the working people. The war on poverty has been a war on the worker.
So why bother working? Quit today, and you will shed $75,000 in debt instantly! I am not really serious about quitting your job, but its easy to see why the US is in such a downward spiral. We have become a nation of takers instead of makers. We deserve to go down the economic toilet.