David Walker, the former US Comptroller General, says that the federal debt level is approaching $55 trillion and if you add in the what is owed on the state and local levels -- plus personal household debt -- it adds up to $75 trillion in obligations.Walker, who now heads the Peter G. Peterson Foundation, named for the co-founder of the Blackstone Group, warned that without fiscal restraint, Uncle Sam may be guaranteeing that our future is not as prosperous as our past.At the $75 trillion deficit level a family of four owes $1 million, he said.
Sunday, June 14, 2009
Debt estimated at $1 mil per US family
From today's New York Post:
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