One legislator says federal spending is at a breaking point.
The U.S. Census population clock shows the population of America to be nearly 336 million people. The Treasury Department estimates the national debt as nearly $34 trillion. Dividing the rough debt estimate by the rough population estimate means that each person in the United States owes over $100,000.
Representative John James of Michigan stated, “The national debt just exceeded $100,000 per citizen. This should send a message to the White House that this reckless federal spending is at a breaking point.”
Fitch and Moody’s, international credit rating agencies, have downgraded America’s credit rating. Congress has given little indication that a serious attempt will be made to decrease federal spending.
As the Lord Leads, Pray with Us…
- For Secretary Yellen as she oversees the Treasury Department and the payment of the nation’s obligations.
- For Director Santos as he heads the U.S. Census Bureau.
- For Congressman James and others in Congress who seek to reduce federal spending and the national debt.
Sources: Wall Street Journal, Just The News
