Wednesday, May 19, 2010

Message from a Young Adult


Watching the election results from the primaries yesterday got me to thinking about a few things...

Did you know that every college graduate walks out of the classroom and into the work force owing the federal government $117,682 for the national debt? This concerns me, and it should concern you because it will take young adults their entire lives to pay off this debt. For example, they couldn't pay it off even if...

* A 22 year old paid $175 per month for 56 years...he would still owe $82.

* A 25 year old paid a quarter every hour of everyday for 53 years...he would still owe $1,612.

* A 23 year old paid $5 everyday for the rest of his life...he would still owe $17,307.

This means that the money you could be spending on a house, a car, a vacation or literally millions of other things, will instead go to the IRS and the federal government to pay off the national debt.

And it gets worse. All this assumes that the federal government doesn't spend another dime...ever, but right now the government is spending $6.8 million per minute.

As young adult, this is my future and regardless of your age, it's about time we did something about it. It's about time we started telling Congress, "Hey, don't put it on our tab!"

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