Question

From class we learned that in 2010 the federal debt (in millions) was $13,561,623 and the population of the U.S. was 309 million. Use this information to compute the federal debt per capita in 2010.

Answer 1

Net Debt per Capita=(Short Term Debt+Long Term Debt-Cash and Cash Equivalents)/Population
From the information given:
federal debt in 2010 (in millions)=$13,561,623
Cash and cash equivalents=0
population=309 million
Hence the federal debt per capita will be:
(13,561,623)/(309)
=$43,888.75