Spiga

Hey buddy, got $145,000?

The government is deep in debt. How deep? Check this column's headline for an idea of how much money you would owe if every American were to pay an equal share of the debt (USA Today).

The government has borrowed hundreds of billions to maintain current programs. Long-term obligations such as Social Security, Medicare, and Medicaid bind the government into around a $43 trillion spending obligation, said the U.S. Comptroller General David Walker (Don't feel dumb, I've never heard of him either).

That $43 trillion in debt and obligations averages out to $145,000 for every American, and by the time you read this column, that number may have gone up. Federal spending has increased. Taxes have been cut. The booming economy of the late 1990s has slowed.

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