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  • user warning: Table './conserva_drupal/cache_filter' is marked as crashed and should be repaired query: UPDATE cache_filter SET data = '<p>\n FEDERAL DEBT: October 15, 2014</p>\n<p>\n <img alt=\"\" src=\"http://conservativechronicle.com/sites/default/files/Jeffrey.gif\" /></p>\n<p>\n Which will be greater: the burden of student debt on Americans who went off this fall to their first year of college, or the amount of federal debt per full-time private-sector worker when these students earn their degrees and start looking for jobs?<br />\n There is no doubt: It will be the amount of federal debt per full-time private-sector worker.</p>\n<p> AS OF last Friday, the total debt of the federal government was $17,858,480,029,490.28, according to the U.S. Treasury. That equaled $200,258.81 for each of the 89,177,000 full-time private-sector workers that, according to the Census Bureau, were in the United States in 2013.<br />\n (There were a total of 105,862,000 full-time workers in the United States in 2013, according to the Census Bureau. However, 16,685,000 of these full-time workers worked for government, getting paid with tax dollars or from government borrowing. That left only 89,177,000 who were self-employed or worked for private-sector employers.)<br />\n Federal debt per full-time private-sector worker has escalated rapidly. At the end of 2007, the total federal debt was $9,229,172,659,218.31, which equaled $101,158.25 for each of the 91,235,000 full-time private-sector workers in the United States that year. In 2000, the total federal debt was $5,662,216,013,697.37, which equaled $66,553.23 for each of the 85,078,000 full-time private-sector workers that year.<br />\n Since 2000, federal debt per full-time private-sector worker has more than tripled.<br />\n On average, going to a four-year private college &mdash; and borrowing every single penny of the cost &mdash; will impose a smaller burden on this year&rsquo;s college freshman who ends up graduating and eventually becoming a full-time private-sector worker than will the federal deficit spending that took place per full-time private-sector worker before that young person ever stepped foot, as a matriculating student, on his or her college campus.<br />\n According to the College Board, the full price for tuition, fees, room and board at a four-year private college in the 2013-2014 school year averaged $40,917. At that rate, a student who went to a private college for four years would spend an average of about $163,668 for their education &mdash; if they paid full fare.<br />\n Thus, the current federal debt per full-time private-sector worker of $200,258.81 exceeds the average four-year cost at a private college by about $36,591.<br />\n When this year&rsquo;s college freshmen graduate and get jobs, quite likely the biggest personal expense they will face is buying a home.<br />\n So which will be greater: the federal debt per full-time private-sector worker, or buying an existing single-family home?<br />\n In the short run, it may be a close call.</p>\n<p> IN 2013, the median price on an existing single-family home was $197,400, according to the National Association of Realtors. In January, it was $187,900. By August, the latest month for which figures are available, it had risen to $220,600. But single-family homes were less expensive in August in the South and Midwest, where the median prices were $192,000 and $175,000, respectively.<br />\n Still, a person putting a 10-percent down payment of $22,060 on a single-family home at the median August price of $220,600 would end up with a mortgage of $198,540.<br />\n That $198,540 mortgage is less than the $200,258.81 in current federal debt per full-time private-sector worker.<br />\n Americans who invest in a college education or a single-family home are not only buying a solid asset that will serve them well for the rest of their lives; they are investing in what we used to consider the American dream.</p>\n<p> AMERICANS WHO get up every morning and go to work, and do it week after week after week, and are forced to pay progressively higher taxes to maintain a federal welfare state that is driving our national debt to an unsustainable level are being forced to subsidize a system that is killing the American dream.</p>\n', created = 1574194629, expire = 1574281029, headers = '', serialized = 0 WHERE cid = '2:b534e7851f6002806144e159b42bc3c8' in /home/conserva/public_html/includes/cache.inc on line 112.
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Debt is $200,000 per full-time private-sector worker

FEDERAL DEBT: October 15, 2014

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