Putting Federal Debt In Perspective Against Those Responsible In The Future
October 27th, 2019Via: Economica:
Since 2007, US federal debt has risen 150% while annual US births (legal and otherwise) have fallen almost 14%. Said otherwise, over the dozen years since 2007, federal debt has increased by $13.8 trillion while 5.2 million fewer births have occurred over the same period than the Census projected. This is probably worth a little closer look.
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The then present generation (baby boomers) made a deal with the past generation to sell out the future generation (Millennials). This can be seen in the chart below, showing the debt each child is born shackled with. From $100 thousand in 1970, to $300 thousand in 1980, to $800 thousand in 1990, $2.1 million in 2007…and as of 2019, every child born a citizen of the US (regardless their parents status) is liable for a ludicrous $6.2 million in federal debt. And this is just a fraction of the actual liability that is owed, if even faster rising unfunded liabilities were included.
