America’s federal debt is an issue that does not just concern the United States as a government entity, but affects the entire global economy, including the economies of many industrialized and developing nations alike.

At this time the U.S. federal debt is breaking records by hovering at the extreme of $12 trillion dollars. This total is up from $11 trillion since March of 2009. With the government so far in debt, how can it possibly solve its fiscal problems by piling on even more debt in the form of government bailouts and stimulus packages?

As some very keen investors and economists have already stated, you cannot borrow your way out of debt!

We are dealing with an avalanche of debt. In the decade of the 90’s $2.8 trillion new debt was created and between 2002 and 2009 another $6 trillion was added.  Consumptive social spending is one factor and may be partly to blame, but let’s be honest: this is a top-down problem. Joe and Jane Public did not create the giant debt trap that is the monetary policy of fiat currency, borrowed from central banks and regulated through big government.

It is estimated that the total U.S. debt amounts to over $40,000 for every man, woman and child in the United States.  Government, as we know, relies on money from its citizens in the form of compulsory taxation in order to continue its gluttonous pork-barrel spending.

The United States government allows and promotes trade deficits and makes no effort to save. The congress permits borrowing from trust funds like Social Security, and issue worthless IOU’s to cover those loans.

Nearly fifty percent of the federal debt is owed to foreign interests. Some of the U.S.’ creditors could be said to be friends and allies, but others could hardly be said to have America’s best interests in mind.

Suggested remedies to the federal debt include several different components but the system itself is flawed. Bailouts, foreign aid to war-mongering countries, and America’s own foreign war expenses all contribute to the growing federal debt.

The federal debt is a topic of concern to everyone. It is a worry for the average taxpayer, who falls continuously behind. The threat of cuts to social support payments is ominous for people who rely on these programs for survival, and for those who will face the burden of caring for the needy if these programs are cut.