The bill for real taxpayers is $350,000

What does it really mean when it is said that every man woman and child owes $48,000 as their part of the national debt?

According to government reports, only about 30 percent of the eligible workers actually pay taxes. So the owed amount expected to be paid back by each private sector taxpaying worker, not including interest or compounding, is really $350,631.

What this says or means is that if you are working, not a low income worker getting food cards and/or rent subsidies, not on unemployment, and don't have a government job, you owe the government $350,631.

Never deducted from reports is the amount paid by the taxpaying private sector businesses, nor does it include government entitlements debt. Government entitlement debt exceeds the amount of the government's national debt, estimated to be as much as $80 trillion.

This includes unfunded social security (welfare, low-income, unemployment, and government payroll) and underfunded private sector workers whose contributions were never invested to accrue interest.

The treasurer report shows interest owed on the national debt as $454 billion per year. This is for the national debt and does not include government entitlement benefits.

Government issues bonds to itself to cover the 'borrowed' social security money, reputed to be $2.6 trillion, at an interest rate of five percent. These bonds are akin to a second credit card used to pay off another credit card.

Without the ability to generate income, government does not have the means or the ability to pay back the 'borrowed' money and interest, or to pay entitlement obligations.

Government can only be financially supported by private sector taxation.