expat_panama
Gold Member
- Apr 12, 2011
- 3,864
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No, that's not it either and it's crazy that nobody's even coming close. Here's the thing: nobody here believes that every member of their family has $238,348.50 in the bank (am I right?). Dividing the total equally among everyone is stupid so let's admit every man woman & child doesn't owe and is not going to have to pay $54,630.10.Here's the problem with that. The debt is growing faster than your itty bitty minimum payments.More like $54,630.10 --that's $17,149,154,023,335.85 (from here) ÷ 313,914,040 (from here). Of course, while we're at it the total private net worth of all American citizens is $74,820,940,000,000 (from here) so dividing that equally (like we did w/ the debt) then we've all got $238,348.50 in the bank and we can pay off our $54,630.10 in monthly installments at a 1.3731816% annual interest rate (from here) --which comes out to $62.51 per month. I now got a bank balance of $238,348.50 so I can afford the $62.51 per month. Easy peasy....you owe just over $54,000.00...
Let think. Out of the total U.S. population of 313,914,040, only 143,568,000 are employed, and only half of those are paying taxes. Out of those of us who pay taxes, most the revenue is payed by just our riches 5%. The good news is that the debt's going to be paid by the nation's one percenters. The bad news is they won't be able to continue doing almost all the hiring so we're going to be looking at even more joblessness.