Income Deficit - US Income Deficit

US Income Deficit

In the United States, the census bureau separates data collected into several different categories. Each category is then separated even further by number of children, age of children, yearly salary, social security income, et cetera. The data below shows the average of each subcategory within the three larger ones. Data is from the year 2000.

• Families have a mean income deficit of $7,247.
• Married-couple families have a mean income deficit of $6,946.
• Families with female householder and no male present have a mean income deficit of $7,562

The total United States deficit runs to the figure of over $700 billion. This debt is the biggest ever seen in world history says Maurice Obstfeld, professor in economics at the University of California, Berkeley.