Federal Debt per Working Couple Tops Median Home Price
The American dream of buying a home now costs less than the amount of debt the federal government has accumulated per every two workers in the United States.
As of the end of July, the total federal debt was $39,771,617,162,466.97, according to the U.S. Treasury Department. During that same month, according to the Bureau of Labor Statistics, there were 162,177,000 people employed in the United States.
That means that the $39,771,617,162,466.97 in debt equaled approximately $245,236 per worker — or approximately $490,472 for two workers.
Meanwhile, according to the Federal Reserve Bank of St. Louis, the median price of a house sold in the United States in the second quarter of this year was $410,700.
So, the approximately $490,472 in federal debt per husband and wife who are both employed is more than the $410,700 they would have had to pay this June if they had bought a house at the median price.
On Jan. 3, 2025, when the 119th Congress convened with Republican majorities in both the House and the Senate, the total federal debt was $36,164,146,727,045.82. That means the debt increased by $3,607,470,435,421.15 — in just 19 months — to hit $39,771,617,162,466.97 at the........
