The U.S. Budget Deficit is now over 1.3 trillion dollars for the current fiscal year (as of July), and in addition the U.S. National Debt is. . . .tick. . . .tick. . . tick. . . .tick:
U.S. NATIONAL DEBT CLOCK
The Outstanding Public Debt as of 14 Aug 2009 at 08:19:49 PM GMT is:
The estimated population of the United States is 306,734,263, so each citizen's share of this debt is $38,034.35.
The National Debt has continued to increase an average of $3.88 billion per day since September 28, 2007!
According to usnews.com: In September 2008, the digital dollar sign was eliminated to make way for an extra digit—the "1" in $10 trillion (the national debt is currently $10.2 trillion). Now, a new clock is in the works that will make room for a quadrillion dollars of debt, according to the Associated Press. Anticipated completion is early 2009.
A little history on the clock: It was created in 1989 by Manhattan real estate developer Seymour Durst to inform the public about the nation's snowballing national debt (back then, it was $2.7 trillion). Seymour died in 1995, and the clock is now owned by his son, Douglas Durst.
According to the Treasury, the national debt has grown more than $500 billion each year since fiscal year 2003. The $700 billion government bailout could send the national debt to more than $11 trillion, says the AP.
--- "Budget Deficit" vs. "National Debt"---
To understand the difference between the "Budget Deficit" and "National Debt" go to www.federalbudget.com it even explains it to where even I can understand it. . . .
http://www.brillig.com/debt_clock/
http://www.usnews.com/blogs/new-money/2008/10/09/maxing-out-the-national-debt-clock.html
http://online.wsj.com/article/SB123629969453946717.html
