Your Household Owes $137,000

Your Household Owes $137,000

The average American household now owes $137,000 as part of their share of the national debt.  And the U.S. government just tacked on an additional $1.3 trillion to the national debt, reports Fox News.  This is an increase in the average liability for Americans households of almost $11,000.

It is the fourth straight year of trillion dollar deficits, and the debt added in FY 2012 was slightly greater than the increase in FY 2011.

The national debt, not surprisingly, has become a significant campaign issue; the Republican ticket of Mitt Romney and Paul Ryan in particular is focused on the debt issue.  Of note – foreign aid has increased by almost 80 percent under President Obama, which is controversial in light of recent relations with some of our overseas allies.

For more, check out Fox News.

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