The first set is based off the 2010 Census.
It assumes:
*That the population of U.S. citizens 15+ stays the same.
*Debt levels off at $17.0 Trillion
*A budget is passed every year that is perfectly balanced, it does not have a surplus or deficit
Debt:
$17,000,000,000,000
U.S. Citizens 15+:
247,518,325
Amount each 15+ citizen pays each year, strictly toward the debt:
$500.00
Total yearly amount collected:
$123,759,162,500
Years it would take to pay off the debt:
137.364 years
The second (and much more frightening) set deals with if the U.S. decided to sell acres of land, to pay off the debt. How many acres would it take to reach $17.0 Trillion, and at what prices? What states would we have to loose?
Debt:
$17,000,000,000,000
Total U.S. land in acres:
2,263,000,000
Debt per acre of land:
$7512.15/acre
If we sell every acre for $500,000:
34,000,000 acres to pay off the debt, or 1.50% of the U.S.
Every acre sold for $100,000:
170,000,000 acres to pay off the debt, or 7.51% of the U.S.
375,000,000 acres in Alaska not suitable for agriculture production:
$45,333.33/acre in exchange for debt
California is 103,000,000 acres:
$165,048.54/acre
Montana is 94,000,000 acres:
$180,851.06/acre
Oregon is 60,000,000 acres:
$283,333.33/acre
Maine is 20,000,000 acres:
$850,000.00/acre
The most frightening statistic is also the most plausible out of the land selling group:
If we sold land for $10,000/acre:
1,700,000,000 acres to pay off the debt, or 75.12% of the U.S.
No country would buy land for $800,000 or $500,000 an acre, which is why I state the $10,000/acre is most plausible.
Comments?
