50 Statistics About The U.S. Economy That Are Almost Too Crazy To Believe

Click Here: 50 Statistics About The U.S. Economy That Are Almost Too Crazy To Believe

Most Americans know that the U.S. economy is in bad shape, but what most Americans don't know is how truly desperate the financial situation of the United States really is. The truth is that what we are experiencing is not simply a "downturn" or a "recession". What we are witnessing is the beginning of the end for the greatest economic machine that the world has ever seen. Our greed and our debt are literally eating our economy alive. Total government, corporate and personal debt has now reached 360 percent of GDP, which is far higher than it ever reached during the Great Depression era. We have nearly totally dismantled our once colossal manufacturing base, we have shipped millions upon millions of middle class jobs overseas, we have lived far beyond our means for decades and we have created the biggest debt bubble in the history of the world. A great day of financial reckoning is fast approaching, and the vast majority of Americans are totally oblivious.

But the truth is that you cannot defy the financial laws of the universe forever. What goes up must come down. The borrower is the servant of the lender. Cutting corners always catches up with you in the end.

Sometimes it takes cold, hard numbers for many of us to fully realize the situation that we are facing.

So, the following are 50 very revealing statistics about the U.S. economy that are almost too crazy to believe....

(Here's just a couple---read the whole list at the link!)

50) In 2010 the U.S. government is projected to issue almost as much new debt as the rest of the governments of the world combined.

49) It is being projected that the U.S. government will have a budget deficit of approximately 1.6 trillion dollars in 2010.

God Bless.
+Jesus, I Trust In You!
Love, Dawn

Until we make some hard decisions it will get worse.

Socialism does not work. Work, Tradition, Family and Property does.

We need a few hundred Chris Christies, one in the White house and the rest in Congress.

We need some Austrian economists.

We need some good old fashioned common sense. :thumbsup:

[quote="Sabda, post:5, topic:200810"]
We need some good old fashioned common sense. :thumbsup:

[/quote]

Wow, what I wouldn't give for some good ol fashioned common sense. A term that most in Washington don't have a clue of the definition. :( Truly frightening.:frighten:

[quote="ProVobis, post:4, topic:200810"]
We need some Austrian economists.

[/quote]

How would that solve significant problems or even identify the problems that the economy faces?

[quote="Black_Rose, post:7, topic:200810"]
How would that solve significant problems or even identify the problems that the economy faces?

[/quote]

Here's a light intro

ROFL that video is awesome!

watch this:

booktv.org/Program/11505/...he+Future.aspx

Power Hungry: The Myths of Green Energy and the Real Fuels of the Future
Robert Bryce
About the Program
Author of "Gusher of Lies" now attempts to debunk information about the fuels and power sources intended to replace use of oil. He explains why he believes ethanol will never replace gasoline, why the electric car will not be a popular mode of transportation and why most green initiatives appear cost prohibitive. The event is in New York.

About the Authors
Robert Bryce
Robert Bryce has been writing about energy for almost 20 years. He is the managing editor of Energy Tribune and a contributing writer for The Texas Observer. He lives in Austin with his wife, Lorin and their three children.

Threads here require a link to a news article in the first post and the title must be the same as the article. See the read me first thread at the top of the page.

Nice post. I spent time reading the links to the authors 50 Statistics. Very scary indeed and supports some of the points i have been making recently.

Especially numbers 44, 39, 8, 7, 6

This problem can be solved in two simple steps. Please take notice that I said simple, not easy.

  1. Balance the federal budget. No excuses.

  2. Implement a 1% national sales tax on all goods and services. All revenue from that tax would be used to pay only the principal on the federal debt.

The federal debt will be gone in 80 to 100 years.

Like Ronald Reagan said, and I paraphrase, "The solutions to our problems are simple, they're just not easy."

This problem can be solved in two simple steps. Please take notice that I said simple, not easy.

  1. Balance the federal budget. No excuses.

  2. Implement a 1% national sales tax on all goods and services. All revenue from that tax would be used to pay only the principal on the federal debt.

The federal debt will be gone in 80 to 100 years.

Like Ronald Reagan said, and I paraphrase, "The solutions to our problems are simple, they're just not easy."

Concise....to the point, and IMHO....absolutely accurate.

John

[quote="Sabda, post:5, topic:200810"]
We need some good old fashioned common sense. :thumbsup:

[/quote]

[quote="RWMorris, post:13, topic:200810"]
This problem can be solved in two simple steps. Please take notice that I said simple, not easy.

  1. Balance the federal budget. No excuses.

  2. Implement a 1% national sales tax on all goods and services. All revenue from that tax would be used to pay only the principal on the federal debt.

The federal debt will be gone in 80 to 100 years.

Like Ronald Reagan said, and I paraphrase, "The solutions to our problems are simple, they're just not easy."

[/quote]

I agree. But we must make sacrifices as all Americans (rich and poor). We did it in the 90's and had a great economy still. Clinton raised taxes and the economy still took off. The Republicans, Democrats and Clinton worked together to keep the budget balanced.

We could do it again.

1% sales tax is good idea, also a $1 charge per stock trade transaction, and national tax on intenert purchases. If small businesses are subject to local, state and federal taxes, why not internet purchases? Total internet purchases were in the billions of dollars. I was one of those internet shoppers.

[quote="josephdavid, post:16, topic:200810"]
I agree. But we must make sacrifices as all Americans (rich and poor). We did it in the 90's and had a great economy still. Clinton raised taxes and the economy still took off. The Republicans, Democrats and Clinton worked together to keep the budget balanced.

We could do it again.

1% sales tax is good idea, also a $1 charge per stock trade transaction, and national tax on intenert purchases. If small businesses are subject to local, state and federal taxes, why not internet purchases? Total internet purchases were in the billions of dollars. I was one of those internet shoppers.

[/quote]

The issue is not about sacrifice.

The issue is about how do we get our country out of debt with the least amount of damage to the economy.

It is important to look inside ourselves and ask if we really desire to spread the pain or to minimize the pain ... to strengthen the economy or to hurt what we perceive as privileged groups. Our perceptions may or may not be accurate as to which groups are privileged.

The idea is to keep taxes to a minimum. As it is now, the tax structure is so complex that it is difficult for the tax structure to be equitable. And efforts to make it more equitable often have damaging secondary and tertiary effects.

Taxes must be easily administered in order to minimize negative effects. And our tax structure is not easily administered.

Even sales taxes need to be studied carefully. There are radical differences between the VAT -- Value Added Tax - and a simple retail sales tax.

If you impose an internet sales tax, then every individual person who sells stuff [and not all of it is on eBay], will have to collect taxes and submit reports. Often the burden is submitting reports when there is no tax due. Giant bureaucracy with limited results. And the burden is greatest on the smallest sellers.

The very first thing this government could do, and should do, is stop scaring the thunder out of people who hire other people or buy the productive goods other people produce. Seems like every other week, it floats some new "trial balloon" for some new program or other. They always involve increased spending, increased taxation, increased regulation or all of them.

Possibly some of that stuff is intended to mollify leftish special interest groups, like the ban on shallow drilling, which might now be rescinded. Possibly some of that is truly intended, like the VAT tax proposal and "cap and trade". Some of it is simply mysterious. Nobody in small business really knows, for example, what his/her interest rates or healthcare coverage costs will be in the next few years. Nobody really knows what this government is going to do when it comes to coal or nuclear power. Nobody knows what the next "stimulus" spending is going to amount to, what it will be spent on or who will be recipients of it.

It's like being on a sailboat in a storm and nobody knows for sure who is at the wheel or whether there is anybody at the wheel at all. Nobody can tell for sure whether somebody really is at the wheel, but is not so much trying to keep the ship afloat as he is playing around trying out his innovative theories on how boats can be operated, seemingly unaware that his theories have sunk many boats in the past.

I'm totally against financial transaction tax. It's the same tax that is being advocated by leftists from Europe. Actually, they are calling for an international financial transaction tax. When we invest, we already pay tax in the form of capital gain tax. Short or long term is dependent on your trading skill. There's no need for another tax.

[quote="MugenOne, post:19, topic:200810"]
I'm totally against financial transaction tax. It's the same tax that is being advocated by leftists from Europe. Actually, they are calling for an international financial transaction tax. When we invest, we already pay tax in the form of capital gain tax. Short or long term is dependent on your trading skill. There's no need for another tax.

[/quote]

So you suggest that because Europe has that tax it harms their economy?

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