If Americans under 18 had to pay off the federal debt, each would need to pony up about $218,000 – more than the average price for four years at a private college or the median home price.
Or more specifically, according to an article on CNSNews.com, “if Americans under the age of 18 were required as a group to pay off the entirety of the federal government’s debt in equal shares, each would now need to pay about $218,676.”
“That is more than the $130,468 average price tag for four years at a private college or the $173,100 median price for an existing one-family home in the United States.”
The takeaway, rightly notes author Terence P. Jeffrey, is that “neither borrowing all the money needed to pay for a four-year private-college education nor borrowing all the money needed to buy a median-priced home would put as much debt on the shoulders of young Americans as the federal government already has.”
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