A Million Dollars a Minute - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

A Million Dollars a Minute

A Million Dollars a Minute
By: Holly Brantley

Imagine money flying out of your bank account at the rate of one million dollars per minute.

According to the latest figures, that's how fast the national debt is rising.

Every 60 seconds our country tacks on another million to the grand total, already sitting at more than nine trillion dollars.

"It does alarm me," said Doris Jean Arnold.

The average person's share of that debt is about $30,000.

Some people feel the government let the figure get out of control.

"If they're going to be stupid enough to let it get that high, they've got no business being in office," said Joe Young.

Sure a trillion dollar debt isn't something to take lightly, but local economists say it isn't something you should lose sleep over either.  You probably won't be held personally responsible for your share. And, the chances of the country erasing the debt are slim.

"That's the way it's been for years," said Melissa Dawson Hunter. "That's the way it probably always will be. "

"I think they could get rid of a lot of things," said Young.

Economists say there are several reasons why the picture is expected to get worse.

Over the next 25 years, more Americans will be drawing Social Security and Medicare.  Over the next decade, wars in Iraq and Afghanistan are expected to cost trillions.

"Sending it all overseas isn't going to help our country," said Young.

"The war has a lot to do with it," said Arnold.

According to some citizens, the money buys something you can't put a price on, our reputation as the United States of America.

"Because our country is working for the people all the time," Hunter said.

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