National Debt Over $12.1 Trillion or $111,224 per US Taxpayer!

This article was originally posted at Kirk's Market Thoughts as US National Debt Passes 12.1 Trillion Dollars!

Check out The National Debt Clock for a sobering set of statistics.

As I type, the total nation debt is over 12 TRILLION 1o4 Million!

$12,104,298,636,666

It advanced over 30 MILLION as I wrote that down.

National

• Debt per citizen = $39,283
• Debt per taxpayer = $111,224
  
• Interest per citizen = $5,859

US Population = 308,129,449
Number of US Taxpayers = 108,834,743
Number of Officially Unemployed = 15,403,989

Number of US Workforce 138,584,486
Number of Federal Employees = 4,238,946
Number of US retirees = 37,500,533

Notes of interest:

Not all workers pay taxes since they fall below the threshold.

If you define "supporting" as you give more to government than you get from the government, then this calculation is staggering:

Us 108.8 million taxpayers are supporting 57.1 million people!

• 4.2M federal workers
• 15.4 M unemployed and
• 37.5M retired people!

The price of Gold (Gold Charts) is probably reflecting the market's belief in how difficult it will be for US taxpayers to repay this debt without massive inflation.

Disclosure: I have no position in Gold but I do have significant personal positions in TIPS, TIPS mutual funds and iBonds plus I hold them in BOTH my newsletter portfolios. See: Kirk's Two Investment Letters


Disclosure: no position in Gold but I do own TIPS, TIPS funds and Series-I Bonds.