The national debt per person is the nation’s publicly held debt divided by the U.S. population. While this is not to suggest that every American is responsible for paying this much of the national debt, it puts a real burden on individuals. Federal debt, so large that it approaches the size of a nation’s economy, slows growth and reduces personal incomes. A child born this year bears a $42,000 share of the publicly held federal debt. Before these children even take their first steps, Washington has made decisions that reduce their future economic opportunity. By the time most of this generation can vote, their portion of the federal debt will already be $68,000 per person. By the time this next generation of Americans is able to have a say in federal spending, the decision to reduce their standard of living was made without their input and the damage done. But there is hope. Congress can reduce debt with long overdue budget reforms that tackle spending […]