With the absence of a government plan to pay off the national debt I put forth my own.
Here are the assumptions.
We owe about $11 trillion
Our debt will grow by $2.3 trllion. per year for 10 years
In 2019 our total debt will be about $33 trillion
With 300 million people thats about $110,000 per person
If we start today and each person pays about $1,166 per month for the next ten years, at the end of ten years our debt will be paid.
I have 5 people in my family and I am the only one who produces an income, so my share is $5830 per month. Of course this is on top of the taxes I already pay. I better get to work...
Wednesday, September 2, 2009
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