$15 Trillion in the hole (and counting!)

The $15 trillion national debt is now equal to a year’s worth of production and services in the United States.

But that production does not belong to the U.S. government.

The problem is this is a credit card balance that is 6 times the annual income of the federal government, based on annual tax revenues of $2.5 trillion.

Readers should imagine this — owing MasterCard 6 times their annual earnings.

Imagine making $25 grand a year and owing Visa $150,000.

That’s how bad off the federal government is.