Tuesday, August 13, 2013

The Obama Economy

The Fall of the US…..Some signs of the turmoil that has no doubt been expedited by the Obama Presidency….possibly the worst in American history

Sources: http://www.usdebtclock.org/#

1. The US has a national debt of $16.88 trillion and counting….No country in history has suffered such a staggering shortfall. The debt per US citizen stands around $53,300.00 or $148,027 per taxpayer. Total interest on the debt for 2013 is $2.88 trillion. $5.6 trillion dollars is owed to foreign countries.

2. Gross debt to GDP stands at 106% as the country continues building a bigger hole for itself.

3. There are over 11.5 million unemployed Americans officially. Almost double that for the actual number (22.2 million) and likely to grow.

4. Over 50 million Americans are living in poverty with close to 48 million using food stamps…..This is what happens when the mechanism for job creation is stifled by the regulation fanatics in government.

5. Over 19 million Americans work for state and local governments and a further 4.8 million are employed by the federal government. Talk about bloated bureaucracies….

6. Social security liability is almost $16.5 trillion, prescription drug liability is $21.8 trillion and the medicare debt is a whopping $86.8 trillion as Obamacare kicks in….Factor all this together and the liability per taxpayer is $1.096 million….I know that I have that money lying around. Assets per citizen is only $0.318 million… so those on left who see wealth distribution as a solution (which it never is) will fall hopelessly short of the mark.

7. Stimulus packages by the Obama regime has escalated the collapse by adding over seven trillion to the National debt – more than any other president in US history….think of this as a ‘gift’ to future generations of Americans.

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