US $53 trillion in debt

Most of the debt has occurred in the past 20 years. $53 trillion is a hard number to even conceive - it's a really big number. When will the Ponzi scheme crash? Who will be the last sucker to play? From Jesse's American Cafe blog:

America has become more a debt 'junkie' - - than ever beforewith total debt of $53 Trillion - - and the highest debt ratio in history.That's $175,154 per man, woman and child - - or $700,616 per family of 4,$33,781 more debt per family than last year.Last year total debt increased $4.3 Trillion, 5.5 times more than GDP.External debt owed foreign interests increased $2.2 Trillion;Household, business and financial sector debt soared 7-11%.80% ($42 trillion) of total debt was created since 1990,a period primarily driven by debt instead of by productive activity.And, the above does not include un-funded pensions and medical promises.

America's Total Debt Report - Grandfather's Economic Series

http://jessescrossroadscafe.blogspot.com/2008/12/ponzi-nation.html