The United States government is over $17 trillion in debt. That is over $56,641 of debt for every man, woman, and child in the country.
In the past four years alone, debt has skyrocketed from 75% to more than 105% of GDP:
It’s not just the size of the debt itself, but the pace at which it is increasing. In fiscal 2013, interest payments on the debt totaled $222.75 billion, or 6% of all government spending. Some money funds have stopped buying securities due to fears of a US default, demonstrating to us that the process of issuing securities for debt cannot continue forever. The more debt our government builds up, the harder it is to keep borrowing.