{"id":30,"date":"2008-10-01T13:55:36","date_gmt":"2008-10-01T18:55:36","guid":{"rendered":"https:\/\/thinkstick.dreamhosters.com\/?p=30"},"modified":"2008-10-01T13:55:36","modified_gmt":"2008-10-01T18:55:36","slug":"public-debt-about-to-hit-10-trillion","status":"publish","type":"post","link":"http:\/\/thinkstick.dreamhosters.com\/2008\/10\/public-debt-about-to-hit-10-trillion\/","title":{"rendered":"Public Debt about to hit 10 Trillion $$$"},"content":{"rendered":"<p>Each American owes $30,000 if you divide up the public debt. The new baby you just welcomed into the world? well, he owes $30K already! So this post from <a href=\"http:\/\/calculatedrisk.blogspot.com\/2008\/09\/national-debt-to-exceed-10-trillion.html\" target=\"_blank\">CalculatedRisk<\/a> made me look up the actual numbers.\u00c2\u00a0 Then I discovered that the Treasury Dept has been publishing the total public debt number daily since Jan 1993.\u00c2\u00a0 Here is the quick comparison I made using ManyEyes.<\/p>\n<p><a href=\"http:\/\/services.alphaworks.ibm.com\/manyeyes\/view\/SLinXQsOtha6dq0F4oNiQ2~\" target=\"_blank\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-31\" title=\"bubblechart\" src=\"https:\/\/thinkstick.dreamhosters.com\/wp-content\/uploads\/2008\/10\/bubblechart.png\" alt=\"\" width=\"500\" height=\"429\" srcset=\"http:\/\/thinkstick.dreamhosters.com\/wp-content\/uploads\/2008\/10\/bubblechart.png 550w, http:\/\/thinkstick.dreamhosters.com\/wp-content\/uploads\/2008\/10\/bubblechart-300x257.png 300w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/><\/a><\/p>\n<p>If you want to get the whole data set and the rise of this humongous number, see the daily figures here as <a href=\"http:\/\/services.alphaworks.ibm.com\/manyeyes\/data\/SLinXQsOtha65pGkoHLiQ2~\" target=\"_blank\">data set<\/a> and <a href=\"http:\/\/services.alphaworks.ibm.com\/manyeyes\/view\/SLinXQsOtha6LpWBR4MiQ2~\" target=\"_blank\">line graph<\/a>.<\/p>\n<p>I understand this bailout should happen or must happen or whatever but really can we start freaking taxing the rich?<\/p>\n<p>One other note, I don&#8217;t know how Americans see debt. I hate debt, in any shape or form. I know it&#8217;s a bit extreme and may be slightly irrational.\u00c2\u00a0 People claim there is good debt such as mortgage. Even so, I still hate debt. So guess how much of the national budget is used to pay the <strong>interest for this public debt of 10 Trillion? <\/strong><\/p>\n<p>Here is your answer : <strong>16.194%<\/strong>, which is equivalent to 8 times what the government spends on <strong>education (~2%)<\/strong>. So last year, $4858 of my fed tax payment went to China as interest. excellent right?<\/p>\n<p><a href=\"http:\/\/taxbreakdown.org\/\"><img decoding=\"async\" class=\"alignleft size-full wp-image-32\" title=\"interest-on-public-debt\" src=\"https:\/\/thinkstick.dreamhosters.com\/wp-content\/uploads\/2008\/10\/interest-on-public-debt.png\" alt=\"\" width=\"500\" height=\"317\" srcset=\"http:\/\/thinkstick.dreamhosters.com\/wp-content\/uploads\/2008\/10\/interest-on-public-debt.png 748w, http:\/\/thinkstick.dreamhosters.com\/wp-content\/uploads\/2008\/10\/interest-on-public-debt-300x190.png 300w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/><\/a><\/p>\n<p>Thank you George W Bush, I am waiting for Jan 20th 2009. And it better not be &#8216;that old dude&#8217; who wants to keep Bush tax cuts and make them permanent giving the inaugural address.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>So this post from CalculatedRisk made me look up the actual numbers.  Then I discovered that the Treasury Dept has been publishing the total public debt number daily since Jan 1993.  Here is the quick comparison I made using ManyEyes. <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[26,28,29,27,25,30],"_links":{"self":[{"href":"http:\/\/thinkstick.dreamhosters.com\/wp-json\/wp\/v2\/posts\/30"}],"collection":[{"href":"http:\/\/thinkstick.dreamhosters.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/thinkstick.dreamhosters.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/thinkstick.dreamhosters.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/thinkstick.dreamhosters.com\/wp-json\/wp\/v2\/comments?post=30"}],"version-history":[{"count":0,"href":"http:\/\/thinkstick.dreamhosters.com\/wp-json\/wp\/v2\/posts\/30\/revisions"}],"wp:attachment":[{"href":"http:\/\/thinkstick.dreamhosters.com\/wp-json\/wp\/v2\/media?parent=30"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/thinkstick.dreamhosters.com\/wp-json\/wp\/v2\/categories?post=30"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/thinkstick.dreamhosters.com\/wp-json\/wp\/v2\/tags?post=30"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}