US Debt, United States Debt

Information Of US Debt
After conducting an extensive survey it was discovered that United States debt liability was recorded at $516,348 for every household. United States debt scenario in a nutshell is as follows:
$1.3 trillion loss was the United States debt recorded last year by the Federal Government.

To be precise, the United States debt figure it was far from the official declaration of $248 billion depending on the accounting standards of corporate style.

The United States debt depicts that the loss of $11,434 for every household was more than expected.

United States debt data conveys that this loss far out numbered the amount paid by the Americans as tax in the year 2006.

The loss depicted manifests the consistent degradation in the economic conditions of the retirement and the social security plans or projects propounded for defense personnels and people serving in local civil bodies.

The United States debt was $8,816,293,173,064.11 as on 2007-05-25.
The United States debt was $8,540,051,729,781.32 as on 2006-10-18.
The United States debt was $8,361,088,635,034.39 as on 2006-05-08.
The United States debt was $8,270,889,116,189.68 as on 2006-03-09.
The United States debt was $8,816,293,173,064.11 as on 2007-05-25.
The United States debt was $8,209,586,113,365.83 as on 2006-02-14.
The United States debt was $8,198,626,872,332.20 as on 2006-02-02.
The United States debt was $$8,015,272,000,177.94 as on 2005-10-31.
The United States debt was $5,728,195,796,181.57 as on 2001-01-22.

According to the latest accounting norms, local governments, corporations and government at the state level requires the expenses to be recorded at the earliest. However, this accounting norm is not aboded by the Federal government.
This creates a lacunae in the financial working process
This has resulted in the people paying taxes getting trapped in the bait. As a consequence, $59.1 trillion stands out as liability which is approximately an increase by 2.3% as compared to the year 2006.

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Last Updated on : 25th June 2013