Most people have trouble really fathoming what a trillion dollars is. When I talk about the national debt being over 19 trillion dollars, it is hard to comprehend how much that is. It is also easy to ignore it because it is just another large number.

Well, to start with, it comes to over $160,000 per taxpayer. How soon will you be paying your share of it? That does not count all of the liabilities the government has promised to people.

I will try to put it in easy to understand terms. If there was a person who made $50,000 a year but they owed $290,000 in debt, that would be the picture of the U.S. government. In addition to this, they had previous employees and other people they had promised to help support. All of this support will come to about $1,530,000 over time.

Now every year this person also spent $10-15,000  more than what they brought in, so they were always going deeper in debt. The problem is they have expenses to support there standard of living and they cannot quit pending this money without experiencing some pain.

In addition to this, they spend much of their time trying to come up with more things to spend money on. The one thing they have going for them is that up until now, they have great credit.

Do you think any bank in their right mind should lend this person more money. Yet they do every day when they purchase government bonds.

If you had a balance sheet like this, or knew someone that did, what would you say will be the financial outcome of them. We all know it cannot continue like this and it will not end in a good way.