Economic Collapse 2012 55 Facts

[WalterNZ]

I find this fact quite interesting. I realize this is speculation but can the illegals vote in the states? If soo.. sure someones trying to make up numbers for the next election??...

55 Interesting Facts About The U.S. Economy In 2012

#9 When Barack Obama first took office, the number of "long-term unemployed workers" in the United States was approximately 2.6 million. Today, that number is sitting at 5.6 million.

 

[dcbrott99]

I find this fact quite interesting. I realize this is speculation but can the illegals vote in the states? If soo.. sure someones trying to make up numbers for the next election??...

55 Interesting Facts About The U.S. Economy In 2012

#9 When Barack Obama first took office, the number of "long-term unemployed workers" in the United States was approximately 2.6 million. Today, that number is sitting at 5.6 million.

To my knowledge Illegal aliens are not allowed to vote in the USA but I could be wrong about that.

 

[dave-o]

But it isn't just our economy that is decaying.

We are witnessing a tremendous amount of social decay as well. As I wrote about the other day, America is rapidly decomposing right in front of our eyes.

When the water level of a river drops far enough, it will reveal rocks that have been hidden from view for a very long time. Well, a similar thing is happening in America right now. For decades, our debt-fueled prosperity has masked a lot of the social decay that has been going on.

But now that our prosperity is evaporating, a lot of frightening stuff is being revealed.

(

 

[YeuEmMaiMai]

#51 During the Obama administration, the U.S. government has accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office.



This is incorrect, when President Obama took office our debt was > $10 Trillion it is now > $16 trillion so in essence he inherited 10 trillions in debt and increated it by 60+%. Debt has always been carried forward and was manageble up until about President Clinton.

It should read

#51 During the Obama administration, the U.S. government has accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton left office.


Just for a comparison

When President Bush took office from Clinton it was $5.8 Trillion and when he left it was $10.1 an increase of 74%

When President Clinton took office it was $4.2 Trillion, when he left it was $5.8 an increase of about 39%

When Bush Sr took office it was $2.6 Trillion, when le left it was $4.2 Trillion and increase of about 38%

When Regan took office it was about $1 Trillion (slightly less) when he left it was $2.6 trillion an increase of over 160%

When Jimmy Carter took office it was about $653 Billion going up to about $930billion or an increase of about 42%

Entitlements are the killer here, not defence spending. Just go look up what is spent on national defence and compare it to human services and it is staggering to say the least.

BTW numbers are just guestimates as information varies widely and percentages were calculated by (office exit debt number - office entry debt number) / office entry number

 

[WKUHilltopper]

To my knowledge Illegal aliens are not allowed to vote in the USA but I could be wrong about that.

Well, if the dead can vote in Chicago, surely there's places in the US where the illegals can too.

 

[Duncanmc]

The collapse is inevitable, the question is what replaces the current system of finances? There will be a price to be paid for the relief of such a monumental amount of unkept promises.

 

[readyforhome]

More of a matter of "when" than "if". Heard one group talking about the idea that America was too big to fail. I'm thinking there are various major nations in the past; which are gone now, which had people saying the same thing. I wonder where they are now? Not happy about this nor am I looking forward to it. Just wanting to be realistic about it.

 

[GlennO]

Our debt will be our undoing. Sadly our credibility and integrity is in the dumper. Debt holders will balk at the next two or three big rollovers much sooner than we little people would guess. Note-holders are willing to accept additional risk for a price, but they can smell default a long way off.

These stats are better than guestimates or opinions.

I hope you find this link useful :elmogrin

USGovernmentSpending.com Past Debt Briefing


On a personal note, today I took some rational steps consistent with my assessment stated above.