The real debt story:
The numbers were just posted for the Federal Government's Debt for Fiscal Year 2005. The total increase in debt was $553 Billion. The real number is worst than that though, since an additional $186 Billion is estimated to have been borrowed from Social Security. The total debt is therefore $739 Billion. This is $61.6 Billion per month. When combined with the trade deficit of 60 Billion per month, the total is over $120 Billion per month. This is approximately $1000 per month per private sector worker. $1000 per month is about what a full time minimum wage employee earns per month. Based on these numbers, we are headed toward a currency crises, when foreigners stop buying our debt, if they have not already.
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