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4 Yrs at Private College = $130,468; Median-Priced Existing Home = $173,100; U.S. Debt Per American Under 18 = $218,676

Posted By admin On November 5, 2012 @ 6:44 am In Money Watch | Comments Disabled

Terence P. Jeffrey
CNS News [1]
Nov 5, 2012

If Americans under the age of 18 were required as a group to pay off the entirety of the federal government’s debt in equal shares, each would now need to pay about $218,676.

That is more than the $130,468 average price tag for four years at a private college or the $173,100 median price for an existing one-family home in the United States.

During the time Barack Obama has been president, the U.S. government debt has increased from approximately $143,255 per American under 18 to approximately $218,676 per American under 18–a climb of $75,421 or about 53 percent.

As of Nov. 1, the total national debt was $16,221,685,381,838.28, according to the Bureau of the Public Debt. On Jan. 20, 2009, when Obama was inaugurated, it was $10,626,877,048,913.08. Thus, during Obama’s presidency, the U.S. government debt has increased $5,594,808,332,925.20.

The 2010 Census [2] said there were 74,181,467 people in the United States under the age of 18. Thus the total U.S. government debt of $16,221,685,381,838.28 equals about $218,676 per person under 18, and the $5,594,808,332,925.20 in new debt accumulated under Obama equals about $75,421 per person under 18.

Full article here [1]

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URL to article: http://www.prisonplanet.com/4-yrs-at-private-college-130468-median-priced-existing-home-173100-u-s-debt-per-american-under-18-218676.html

URLs in this post:

[1] CNS News: http://cnsnews.com/news/article/4-yrs-private-college-130468-median-priced-existing-home-173100-us-debt-american-under

[2] 2010 Census: http://www.census.gov/prod/cen2010/briefs/c2010br-03.pdf

[3] Priced In Gold, The Median Home Price Is Down 80% In The Past Decade: http://www.prisonplanet.com/priced-in-gold-the-median-home-price-is-down-80-in-the-past-decade.html

[4] Existing home sales plunge 27%: http://www.prisonplanet.com/existing-home-sales-plunge-27.html

[5] 16 Shocking Facts About The Student Loan Debt Bubble And The Great College Education Scam: http://www.prisonplanet.com/16-shocking-facts-about-the-student-loan-debt-bubble-and-the-great-college-education-scam.html

[6] US Debt/GDP Hits Post WW2 High 99.5% Following $55 Billion Overnight Debt Increase: Total Debt Now Over $15.1 Trillion: http://www.prisonplanet.com/us-debtgdp-hits-post-ww2-high-99-5-following-55-billion-overnight-debt-increase-total-debt-now-over-15-1-trillion.html

[7] Student Loan Debt Hell: 21 Statistics That Will Make You Think Twice About Going To College: http://www.prisonplanet.com/student-loan-debt-hell-21-statistics-that-will-make-you-think-twice-about-going-to-college.html

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