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National Debt Grows At $1 Million A Minute

National Debt

First Posted: 03/28/08 03:45 AM ET Updated: 05/25/11 01:20 PM ET

AP:

Like a ticking time bomb, the national debt is an explosion waiting to happen. It's expanding by about $1.4 billion a day - or nearly $1 million a minute.

What's that mean to you?

It means almost $30,000 in debt for each man, woman, child and infant in the United States.

Even if you've escaped the recent housing and credit crunches and are coping with rising fuel prices, you may still be headed for economic misery, along with the rest of the country. That's because the government is fast straining resources needed to meet interest payments on the national debt, which stands at a mind-numbing $9.13 trillion.

Read the whole story: AP

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Filed by Michelle Kung  |