The average American earns over $70,000 a year.
Every American is liable for $131,368 of public debt, plus a further $1,031,131 to pay for all those unfunded promises their government has made.
Discuss. You might want to consider the position of Japan and the Eurozone. The US is not alone.
It is possible that the US could manage this debt. WITH zero interest rates.
The Telegraph rightly point out that any increase in interest rates to anything like average rates in the past will lead to a whole world of pain.
The taps will not be turned off any time soon.
Sooner or later the US government is going to default on its debt [Daily telegraph]