Chart: See what the national debt means to you

In a flurry of business to close out the fiscal year, Congress raised the debt limit by $850 billion to $9.815 trillion. Without this move, the federal government’s credit card would have maxed out on October 1 with an outstanding balance of $9 trillion. This staggering amount, also known as the national debt, is equal to $29,700 per American or $78,680 per household. Because the government must fund existing programs and make interest payments on existing debt, Congress had no choice but to raise the debt limit to prevent America’s credit card from being cut in two.

Read More