Tyrannosaurus Debt

One thing I was able to pass along to my kids from my childhood was the ol' Schoolhouse Rock videos that used to play every Saturday morning in between cartoons. I didn't realize it then but those little 2 minute education videos were to last in my memory well past the time I watched cartoons. I bought the video series for my kids when they were still too young to appreciate them (I of course had to watch them a few extra times to make sure they were still relevant..ahem) but now that they are 3 and 5 years old they are loving the songs and lessons. One of the songs that I didn't remember was called "Tyrannosaurus Debt". Apparently the national debt was pretty large back then also and caused a concern for the country. I wonder how the debt ratio compares now vs then if you adjust it to inflation. Has it become worse? Better? The same? I don't know but I do know that the national debt of 8.5 Trillion dollars is beyond belief. How is that our government can spend that much more than it takes in and still operate? As a percentage of the national budget it may be less imposing but can you imagine what the possibilities would be if we didn't have that debt hanging over our heads? The interest alone is over 200 Billion dollars per year. Can you imagine that it would cost each person in the US $650 dollars to pay the interest alone? What if we eliminated the debt? That would save us $28000 per person a year. What kind of society would we live in when each and every person made at least $28000 per year? Each year our elected representatives talk about reducing the "deficit". That's not the debt, it's only the amount that gets added to the debt. So how do we force our leaders to become fiscally responsible? I don't have any answers but at least now I know more about the problem. The possibilities once we become debt free are endless, but the road getting there is going to be long and extremely difficult with the current tax and spend mentality in D.C.