What Is the U.S. Debt Clock?
The U.S. Debt Clock, or formally known as the "National Debt Clock," is a billboard sized located on Sixth Avenue in Manhattan, New York City. The Debt Clock measures the current U.S. public debt and how much each family is reponsible for.
Created in 1989 by New York real estate developer Seymour Durst who wanted to raise people's awareness of the rising national debt, the U.S. Debt Clock first got erected on 42nd Street close to Times Square. At that time, the national debt was at 2.7 trillion dollars.
In 2004, the original clock was dismantled and replaced by the second-generation, or the current, Debt Clock.
On September 30, 2008, the public debt exceeded $10 trillion for the first time, reaching a number so large that the debt figure won't fit on the Debt Clock anymore. It was then plans for a Debt Clock 3.0 was proposed - with two more digits to the clock's display and to be installed at the same location.
As of today, the U.S. national debt is at 11.7 trillion dollars and continuously growing, marking $38,232 of debt per U.S. citizen.