The U.S. Debt Trap - Quantified - a podcast by American Pastors Network

The estimated amount of personal debt without a mortgage is $38,000 per citizen. When the mortgage debt is factored in (according the Federal Reserve), that total number goes to $58,864 per citizen. Why are people (individuals or families) continuing to pile on debt and spend more than they have?

The debt owed by the federal government (Excluding state or local government), according to the U.S. Treasury, total national debt is $21.9 Trillion and going over $22 T before end of year. When this is broken out and divided equally among all 329,000,000 Americans the debt per citizen – every man, woman, and child is over $66,000 per citizen. When you total the debt of Personal, National, State, and local governments, according to the US Treasury, that total skyrockets to $71.7 T dollars and when divided out evenly among US citizens jumps to over $218,000 per man woman and child and over $850,000 per household. Why do those in government (at all levels) and who ought to know better, just do the same?

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