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.