In a move that’s akin to the time you gave back your $5 allowance to help your parents with the mortgage payments, Americans have dug into their own pockets to contribute $7.7 million in 2012 to help pay down our national debt. Even though that amount is just a wee drop in a ginormous bucket, it’s the thought that counts, right? [More]
Everyone agrees that the U.S. debt has risen to scary heights. What not everyone agrees on is what needs to be done to keep the debt from going past the point of no return. Now comes a new interactive tool that lets you try your hand at deciding what sacrifices we all need to make.
Are you outraged at recently proposed federal budget cuts, and dismayed that you just aren’t contributing enough in taxes to help pay off the national debt? Good news! The Treasury Department has a program in place to donate toward the national debt. The program began in 1996, and has collected more than $406,000 so far this year.
The first step to get yourself out of a hole is to stop digging, but that’s a lesson the federal government refuses to acknowledge, allowing the national debt to soar past $14 trillion.
“There are 10^11 stars in the galaxy. That used to be a huge number. But it’s only a hundred billion. It’s less than the national deficit! We used to call them astronomical numbers. Now we should call them economical numbers.” – Richard Feynman, 1965 Nobel Prize in Physics winner.
Now that we’ve hit double-digit trillions, the “National Debt” clock that’s been running constantly since 1989 in New York City’s midtown can no longer properly display the total. Brian Williams says they’ve had to temporarily adjust the display while they build a new one, slated to go up next year. We’re not sure anyone should be spending money on a fancy new hi-tech clock right now—maybe they should just hang a big chalk board, and hire an unemployed investment banker to write the new debt each day. See the video below.