Debt Repudiation

$668,621

Household Debt

Hattip to Daniel Indiviglio at the Atlantic.  USA Today is reporting that the share of the Federal debt for each American household is $546, 668 with private average debt of 121, 953.  Of course these numbers do not include the average household share of liabilities incurred by states and local levels of government.  Does anyone believe that we will ever climb out of this debt abyss except through the terrible remedies of hyper-inflation or debt repudiation?  As I have often stated on this blog the debt that we are amassing is fiscal lunacy and our economy will soon smash into a brick wall of government debt.

Follow TAC by Clicking on the Buttons Below
Bookmark and Share
Subscribe by eMail

Enter your email:

Recent Comments
Archives
Our Visitors. . .
Our Subscribers. . .