Tags: us | debt | grows | faster | than | italy
Image: U.S. Per Person Debt To Grow 7 Times Faster Than Italy’s

U.S. Per Person Debt To Grow 7 Times Faster Than Italy’s

Wednesday, 20 Jun 2012 04:21 PM

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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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