Effects of Government Programs on Economy
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According to Ed Hall's U.S. National Debt Clock, the U.S. debt is currently around just short of the 7 trillion dollar mark and counting at about 2 billion dollars a day since Sept. 2003. It would cost us $26,600 per person to pay it off right now.
The government owes roughly forty percent of this money to itself, through the Federal Reserve Bank and other government accounts. The majority of the debt is owed to foreign investors, insurance companies, banks, and other privately held entities. The money is used to operate the federal government, which currently costs around two trillion dollars a year...