How deep in debt is the United states in?

Makanre asked: We just discussed in class that each household would have to pay $549,000 to get out of debt. I know the number is very high but does anyone know the actual amount in debt we are?

What happens when the government runs out of money, and becomes bankrupt?

advait0 asked: The U.S. Federal Government is in major extreme almost unsolvable debt, State governments sometimes go broke resulting in a shut down of services. So what happens when a state government goes bankrupt for a long period of time, say 6 months to a year? What if the Fed can’t give grants, and loans [...]

How big is this debt that Bush is leaving to the next President?

Richard_SM asked: How much money has Bush borrowed and is he leaving the debt for the next President to pay?

Why doesn’t the next President borrow some more ?

Well – what was the debt when Bush became President – and what will the debt be when he leaves?