You totally blow off the debt situation, which needs to be subtracted from that supposed wealth. Current U.S. Debt of $136,479 per every man, women and child.
You totally blow off the debt situation, which needs to be subtracted from that supposed wealth. Current U.S. Debt of $136,479 per every man, women and child.
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That debt situation page it a hoot! What he's doing is counting liabilities and not assets. This means is that if I borrow $100 at five percent interest and loan it out at 10 percent, the country's debt situation has just soared by $200.
No problem, lets say the American people really do owe $136,479 each. Percapita family wealth in the US is $153,061.80. We're in the black but why stop there? Let's start adding in assets of the federal gov't starting with land. At $10,000 per acre that gives every man woman and child another $64,868.64. We've got other assets-- anyone want to buy a battleship? This is getting silly so let's clean this up and get serious. Total family wealth is private assets after subtracting private debts. Like the graph shows, the national debt is a smaller bite of family wealth now than it was in the past..
Not only that, it's Friday-- what more could anyone want!!