Eliminating the U.S. government’s debt is easy — every American worker, including the poor, could make a one-time payment of $123,000 cover their share of the debt, according to a study conducted by¬†Harvard University’s Institute of Politics.
When the debt share is expanded to living person in the country, from newborns to the elderly, each citizen would still owe the government a whopping $53,000.
Even worse, Harvard updated its findings since January 2013 — only nine months ago, employed Americans would owe $106,000 per worker and all Americans would owe approximately $52,000.
Median household income in the U.S. currently stands at only $51,071.
The report calculates the total U.S. debt stood at $16.4 trillion in January 2013 and $16.7 trillion in October.