dChan
Anonymous ID: 4d0e2b Jan. 1, 2019, 12:57 a.m. No.4548286   🗄️.is 🔗kun   >>8303 >>8306 >>8315 >>8336 >>8403

US students now owe Uncle Sam more than was spent on the entire Iraq War

 

Much has been said in recent years about soaring US debt and Washington's huge military expenditure overseas. American household debt also beats its own records on regular basis.

 

In the meantime, student debt in the country has managed to swell to a record high of $1.5 trillion with the US government holding nearly 70 percent of those education loans, reports the financial website Sovereign Man. A total of $1.06 trillion in student loans reportedly belong to the state, according to the annual financial report for 2017, released by the federal government last month.

 

American students owe the US government more than the estimated $1.3 trillion in direct costs that Washington incurred fighting the war in Iraq. Student loans make up the number one asset of the US federal government, comprising about 30 percent of its balance sheet.

 

Financial aid, aimed at helping young people to access higher education, has been rapidly growing over the past 12 years. Current student debt accounts for more than eight percent of the country’s GDP.

 

The average American student graduates college owing nearly $34,000 and is expected to spend the next 21 years paying the debt off. One in four of the 44 million student loan holders in the US are reportedly struggling to make payments or are in default.

 

Student loans have a significant impact on borrowers’ mental health, according to a recent survey by SoFi, a personal finance company that provides student loan refinancing, mortgages and personal loans. The study shows that 83 percent of respondents felt that they couldn't relax due to their student loans, while 50 percent of respondents said that their student loans caused them to feel depressed. More than a third of those surveyed complained about losing sleep because of student loan debt, with a large number noting that the loans made them miss out on opportunities to travel, promote self-care and make major life decisions.

 

https://www.rt.com/business/420198-us-students-debt-iraq-war/

 

I call bullshit on good economy.

Anonymous ID: 4d0e2b Jan. 1, 2019, 1 a.m. No.4548318   🗄️.is 🔗kun   >>8331

US debt soars nearly $1.4 trillion from last Christmas, rising $44,000 per second

 

The year-on-year surge in US sovereign debt has totaled $1.37 trillion, the latest data released by the US Treasury Department shows.

 

The national debt reportedly rose to $21,863,635,176,724.12 as of December 20 of the current year compared to $20,492,874,492,282.58 on December 25, 2017.

 

The current US population stands at 328,082,386 according to the December statistics produced by the Census Bureau, a unit of the US Department of Commerce. Rough calculations show that Christmas-to-Christmas growth in the federal debt equals approximately $4,178.10 per average US citizen.

 

According to Census Bureau estimates, there were 127,586,000 households in the country in 2018, which means that an average American family owes some $10,743.82.

 

Moreover, since the end of the last fiscal year through December 20, the federal government added some $340 billion to the country’s sovereign debt. That means the debt had been skyrocketing at around $3.8 billion per day, or nearly $44,000 per second.

 

US debt is expected to hit $22 trillion in the near future and the ongoing government spending will drive the debt to $33 trillion within a decade.

 

https://www.rt.com/business/447586-us-debt-year-soaring/

 

Yup that's some bullshit good economy.