Has it occurred to anyone in Washington D.C. that there is a way to increase the statutory limit on the nation's debt without increasing the national debt burden on individual Americans?
Here's how. Instead of fixing the total amount of the national debt (aka "the nation's credit limit"), fix the amount of the national debt per capita.
Here's how that would work. As of 28 July 2011, the amount of the total public debt outstanding for the United States stands at $14,342,865,885,306.46.
Meanwhile, the U.S. Census currently estimates the resident population of the United States to be 311,878,336, as of 30 July 2011.
That sets the current national debt per capita to be roughly $45,988.66.
Since that's so close to $46,000 of national debt for every man, woman and child living in the United States, we'll use that round figure for our remaining calculations.
According to the U.S. Census, there's a net gain of one person every 12 seconds in the United States. In 30 days, after 2,592,000 seconds have ticked off the clock, the U.S. population will have grown by 216,000 to an estimated 312,094,336 people.
The total public debt outstanding of the United States could then rise to $14,356,339,456,000, an increase of $13,473,570,693.54 (almost $13.5 billion) from where it is today, without increasing the national debt burden per individual American, which would hold level at $46,000.
And that could be done, automatically, for every month going forward.
The only question remaining is why should individual Americans be burdened more than than amount to accommodate the spending desires of Washington D.C.'s politicians and bureaucrats? So far, these people have not shown that they can provide a good return on the "investment"....
Labels: national debt
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