Americans Drowning in Debt: The Shocking Truth Behind $100K Per Person!

by Phil Osifer | Aug 29, 2024

America and Americans are awash and drowning in debt. Each member of our 334-million population, including newborns, figuratively bears about $100,000 of that national obligation. They also have personal responsibility for state and local bonds, personal mortgages, motor vehicle loans, and a record current level of credit-card balances. Mainers supposedly live in one of the country’s more fiscally prudent states. In comparison, its outstanding debt of $1.5–billion amounts to a manageable $11,000 per capita, and its annual budgets are not knowingly deficit-prone. The misguided notion of public-sector acquisition and management of Maine’s two distributors of electric power in a speculative, to-be-negotiated transaction not only is out of character, but also would balloon present state debt by a likely multiple of eight. With all the other transformative economic, social, legal and environmental issues confronting all state legislatures, would Pine Tree complications be worth the time and trouble under present circumstances? If you’re really inclined to believe the rosy, problem-free platitudes of Pine Tree promoters, at least have the common sense to vote “yes” on both related Questions 1 and 3. Phil Osifer

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