Consumers working to pay down their debts can find much better role models than the federal government, which recently announced a $1.2 trillion budget deficit.

A recent analysis by the Associated Press notes that in total, the U.S. national debt now stands at $10.64 trillion. The national debt is the combination of every year of national deficit spending. Averaged out, this amounts to a total debt burden of $37,000 for everyone currently living in the United States.

Still, many analysts, along with incoming president Obama himself, have warned that the consequences of not investing in economic stimulus efforts could be far worse for the country in the long term.

"Now, I don't believe it's too late to change course, but it will be if we don't take dramatic action as soon as possible. If nothing is done, this recession could linger for years," Obama said Thursday in an economic policy speech.

Obama cited the difficulties facing many families and companies as they struggle to make ends meet, along with expected news of heavy job losses in the fourth quarter of 2008.

With so many Americans economically struggling, many are turning to payday loans and other options to help them stay ahead of minimum payments and due dates.

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