wealthwire.com / by Brittany Stepniak / Tuesday, October 23rd, 2012
According to the latest U.S. Treasury report (recorded at the end of August) foreign interests held a total of $5,430,000,000,000. If you were to divvy that amount among all 114,328,000 households in the United States – according to the Census Bureau’s latest calculations (recorded in June 2012), that means that each home would owe approximately $47,494.93 in foreign debt.
That’s quite a bit of money… In fact, it’s pretty close to the median family income rate which was about $50,054 in 2011.
From 2009 to present day the total U.S government debt held by foreign interests has risen from about $27,653.29 per household to an astonishing $47,494.93 per home. That means that in just three years it increased roughly $19,841.64. Imagine what heights our foreign debt could surge to in another short three years…
At that rate of increase taken into account with our quickly rising income gap in the U.S., we could easily see the debt held by foreign interest soar to well beyond $25,000 more than the average American household brings home for income throughout an entire year.