Tags: RNC | Obama | Costs | 43K | Person

RNC: Obama Costs $43K per Person

Thursday, 21 Oct 2010 10:42 AM

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
With federal spending now at $3.6 trillion and rising, the current national debt stands at more than $43,000 per each man, woman and child in the United States, according to new statistics  released Tuesday by the Republican National Committee.

obama, costs, each, americanThe outstanding U.S. national debt, now at $13.4 trillion, will cost each taxpayer nearly $120,000, according to the data. That’s akin to the government taking out a mortgage on your behalf, but giving you no house in return!

These frightening figures, along with Washington’s continued spending binge, are casting a long shadow over the 2010 mid-term elections, fueling the movement for a smaller government and increasing voter anxiety about the future.

Economists Carmen Reinhart and Kenneth Rogoff, who studied the link between debt and economic growth over the past 200, report that such staggering debt will have real life consequences, including interest costs crowding out other spending needs; lower standards of living; less room to maneuver in a fiscal or international crisis; and an increasing chance that investors will charge higher interest rates on U.S. debt or stop loaning at all.

Your share of the national debt, however, is just the tip of the iceberg. Not included is the government debt owed by each of the 50 states and each of the counties and cities within the 50 states.




© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Atlanta US Attorney Yates Tapped for Deputy AG

Sunday, 21 Dec 2014 17:46 PM

President Barack Obama is preparing to nominate the top federal prosecutor in Atlanta to the No. 2 position at the Justi . . .

Pataki: Obama to Blame for US Troubles Abroad

Sunday, 21 Dec 2014 16:54 PM

President Barack Obama's "lead-from-behind" strategy is to blame for most of America's problems abroad, former New York  . . .

Variety's Wallenstein: How Obama Took Sony's Crisis From Bad to Worse

Sunday, 21 Dec 2014 15:53 PM

If there are such things as textbooks in the field of crisis management, the Sony Pictures hack might end up in the chap . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved