The United States of America has overdrafted $14 trillion dollars from its checking account.
That’s what we all want to know. It’s the same question we ask when we see our own checking account balance on the morning after and realize maybe we shouldn’t have bought those eight rounds of Cristal for our friends’ co-workers.
But spending during times of disorientation isn’t the sole source of our financial irresponsibility. Like those mornings after, viewing the facts makes it frustratingly clear that solving our debt problems can’t come from only cutting back on one or two things. What may surprise you most is that the items which have received the most public outcry for adding to the problem–such as the ’08 stimulus and the many one-time emergency bills–comprise some of the smallest portions of the Debt Pie.
Click for a larger size. Courtesy of The White House.