A Pitstop On The Information Super Highway

What Grows A Million Dollars a Minute?

December 3rd, 2007 Posted in Mind Boggling Trivia

The national debt of the United States is up from $5.7 trillion when President Bush took office in January 2001.? And like a ticking time bomb, the national debt is an explosion waiting to happen. It’s growing by about $1.4 billion a day , or nearly $1 million a minute.? That’s about $30,000 in debt for each man, woman, andchild in the United States. And it will top $10 trillion right around the time Bush leaves office in January 2009.

The government is quickly depleating it’s resources needed to meet current interest payments on the national debt, which currently stands at a mind boggling $9.13 trillion.

And just like the hundreds of thousands of homeowners who took out adjustable-rate mortgages with low initial rates and have higher rates looming in the future, the government faces the same prospect of seeing this debt? which is currently at relatively low interest rates, roll over to higher rates,? further increasing the staggering financial burden.

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