U.S. Debt Clock Keeps on Tickin’
by Efin Advisor | November 13, 2009
The U.S. Debt Clock, as you may have never seen it or imagined it, at USDebtClock.org is both a dazzling Internet dashboard of dynamic, constantly updating digits and a sobering assessment of the state of our national economy at any given nanosecond.
Counting up both U.S. National Debt and US Private Debt in real time, the modular calculator breaks down debt by taxpayer and citizen. The tote board displays Mortgage Debt, Personal Debt and Credit Card Debt as well as State and Local Debt.
The digital display contrasts the red ink, or pixels, of debt calculations against the green ink, of the U.S. Gross Domestic Product and other sources of income include U.S. Federal Tax Revenue, including average Tax per Citizen with breakdowns of state, corporate and local revenue,.
Scroll down the Web page and you can take stock of America’s Currency and Trade numbers, Personal Savings sums, Social Security and Prescription Drug Liability costs, and as they say, a whole lot more.
Not associated with any government agency or funded by any active political party, organization or lobbying group,. the creators of the U.S. Debt Clock Web site explain its purpose is to “inform the public of the financial condition of the United States.” It also serves to present “a real time snapshot of the country’s balance sheet.”
Although the numbers involved are enormous, it is still easy to see the relative balance between wealth generated and wealth consumed.
Can you tell financial time? What’s your take on the U.S Debt Clock? How do you interpret America’s financial vital signs?
As daunting as the numbers may be, balancing the budget is a secondary consideration during a period of economic recession and high joblessness. Let’s right the sails of our ship first, and then go about the business of bringing down the deficit.
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You can set your watch by this clock. it says America had better set the alarm for a congressional wake-up call!
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It’s hard to get my mind around such a large number, but the Debt Clock breaks it down to the debt of each American citizen. One thing this clock makes clear. The income side of the balance sheet requires one thin and one thing only: Taxes. America, we can’t have it both ways. We can;t have low or no debt AND low or no taxes. Each of us must pay our fair share of tax revenues!
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