Your share of the federal debt

Ever wonder how much you owe to the feds because the Bush Team can't stop spending your money? $28,000 and change. Did he run up the whole debt? No, but he came in with the fiscal house set up by President Clinton to begin paying it down and instead has added $3 trillion!

The Federal Reserve Chief sees problems on the horizon with the large debt but President Bush and the Republican Congress seem to not be changing course at all.

From the American Progress Action Fund:

Since Bush has been in office, the congressionally-set limit on the total national debt has risen from $5.95 trillion to the current ceiling of $8.184 trillion. "That is more than $28,000 of debt for every man, woman and child in the United States." By this week's end, Congress will likely pass a resolution to dig the hole even deeper, permitting the federal debt to "grow by $781 billion to avoid a disastrous government default." The measure would allow the debt to grow to almost $9 trillion, an increase of $3 trillion since Bush took office. Last year's budget deficit came to $319 billion, the third-largest deficit ever recorded. This year, the deficit is expected swell to $371 billion. Even Bush's newly-appointed Federal Reserve chief recognizes the unsustainable fiscal course that the president has led us down. "The prospective increase in the budget deficit will place at risk future living standards of our country," Ben Bernanke said yesterday. "I am quite concerned about the intermediate to long-term federal budget outlook."