The Senate Budget Committee released a new chart on Wednesday that projects U.S. per person debt will increase “7 times faster” than the corresponding per person debt in cash-strapped Italy.
According to the chart, Americans carry a burden of $52,900 per person based on a combination of federal, state and local gross debt per person “in nominal U.S. dollars.”
Meanwhile, each Italian carries a debt burden of only $41,200.
In five years, the debt burden on each American is projected to grow to $67,500 compared to $43,200 for Italians.
The chart was produced by Republican staff based on the International Monetary Fund data.
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