Did you know? Alexander Hamilton saw the National Debt as a way to collect taxes from the American Public.
I did not know that!
Medicaid and Social Security are currently unfunded. If what these are to be paid are added, the national debt rises to $59.1 trillion. Why? The money collected for these programs are used for other things (the government spends more than it budgets.)
These countries have a higher national debt than the U.S. (percentage of GDP):Japan, Zimbabwe, Lebanon, Seychelles, Jamaica, Italy, Egypt, Singapore, Sudan, Belgium, Sri Lanka, Israel, Greece, Bhutan, Cote d’Ivoire, Hungary, Jordan, Uruguay, France, Portugal, Germany, Canada, Morocco, Cyprus, Austria, Mauritius, Philippines, Argentina, India, Turkey, Nicaragua, Ethiopia, Tunisia, Colombia, Pakistan, Albania, Panama, Kenya, Switzerland, Ghana, Netherlands, Costa Rica, Aruba, Bolivia, Croatia, Poland, Brazil, Papua New Guinea, United Kingdom, Vietnam, Malawi, Sweden, Malaysia, Dominican Republic, Norway, Bosnia and Herzegovina, Montenegro, Bangladesh, Babon, El Salvador, Syria, Thailand, Cuba, and Serbia.
Taken from Wikipedia
Watch this!!!
The National Debt clock is out of digits. Follow on twitter to get daily updates.
* Debt Clock will not show numbers because there are too many digits.* New Clock will be put up sometime in 2009.* The debt in the whole history of the U.S. has never been fully paid off.*
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