The national debt is about $26.7 Trillion as of today. Let's say that it grows in the future at about 7%, as it has from 2010 until today. Projecting forward 10 years, lets say that the population is about 350 million people at that time. In 10 years from now, approximately how much will the average citizen owe the Federal government, just so that the government can pay all its debts?

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Adetunmbiadekunle Adetunmbiadekunle · Answer 1 · 2020-10-23T05:01:20+02:00

Answer:

Approximately, each citizen will owe $81,626 just so that the government can pay all its debts in the coming 10 years

Step-by-step explanation:

What we have here is that the debt grows at a rate of 10% per decade

So in the next 10 years, the worth of the debt will be;

26.7 trillion + 7% of 26.7 trillion

= 26.7 trillion + 1.869 trillion

So the total debt will now be;

= 28.569 trillion

So the amount each of the 350 million citizens owe the government will be;

28.569 trillion/ 350 million

= 81,625.71428571429

Approximately each citizen will owe $81,626