We keep hearing about the European debt crisis, but most of us know fairly little about it. All we know is that things are bad enough that The European Union has been considered on the verge of collapse over the issue and that Greece and Italy are the worst offenders. (Ireland is said to be pretty sick now, too.)
So what do we make of this chart from the U.S. Senate Committee on the Budget? (Click the chart above if you’d like to see it at a bigger size.) According to the chart, the per capita debt of the United States is already worse than that of Europe’s supposed basket case countries. What does that say about us?
According to Republicans on the Budget Committee, U.S. per capita debt would jump all the way to $75,000 by 2022 under Barack Obama’s proposed budget. Look at the other four charts on that page as well. If those numbers don’t scare you, you’re either too jaded to care or else you believe (as I do) that the debt will never be paid back, because the government will default at some point.

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