U.S. National Debt

The eye-popping $9 trillion gross national debt is owed by the "General Fund." That's the part funded by our income taxes. Half of that goes for the military and to pay interest on the debt. Fortunately, two huge parts of the budget, Social Security and Medicare, are running huge surpluses.

	Accumulated Debt/Savings	In the last # secs.
Borrowed by the General Fund	– $ #*	$ #
Income: Income taxes. Outgo: Defense 30%, Interest 19%, ...
Saved by the Social Security Trust	+ $ error	$ error
Income: FICA Payroll taxes. Outgo: Benefits and disability
Saved by other Gov. Trust Funds	+ $ #	$ error
Income: FICA & gas taxes. Outgo: Medicare, highways, etc.

Debt Held by the Public (net debt)	– $ error^†	$ error

* Gross National Debt † Debt Held by the Public Debt Clock Source Data


	. .

Comments on The debt's a problem, but we fixed a worse one before!

http://zfacts.com/p/461.html | 09/15/08 22:49 GMT
Modified: Wed, 25 Jun 2008 20:41:19 GMT

Carbonomics
Fix the Climate
Charge OPEC
Free Book
(till publication)

Free
for your site
National-Debt Clock
###

What is taxed?

For General Funds:
All personal and corporate income.
For Social Security:
Only wages up to $94,200.
For Medicare:
All wages. (Medicare is part of "other.")

Price of Addiction
###
to Foreign Oil

Get your Addiction
clock here.

What's odd about the national debt?
The two largest entitlement programs, Social Security and Medicare, are part of the two trust fund categories that are in the black.

Amazon

Secretary of Commerce under Nixon, Peterson explains the national debt by the Republicans' pursuit of reckless supply-side economics and the Democrats' unwillingness to consider limits on entitlements.
more books

Gas tax holiday vs OPEC gas tax — Free clock
gas tax

zFacts Home