Thursday, June 23, 2011

A Horrific Economic Collapse is Coming.

At the moment, the U.S. federal government is able to borrow gigantic quantities of money at super low interest rates.
When that changes, all hell is going to be unleashed.
The following are 41 statistics about the national debt that are almost too crazy to believe....
1 - As of June 20th, the U.S. national debt was $14,344,524,186,068.19.
2 - 30 years ago, the U.S. national debt was approximately 14 times smaller.
3 - It took from the presidency of George Washington to the presidency of Ronald Reagan for the U.S. government to accumulate one trillion dollars of debt.
4 - Since then, we have added more than 13 trillion dollars of additional debt.
5 - The United States government is responsible for more than a third of all the government debt in the entire world.
6 - If you divide up the national debt equally among all U.S. households, each one owes over $125,000.
7 - Mandatory federal spending is going to surpass total federal revenue for the first time ever in this fiscal year.  That was not supposed to happen until 50 years from now.
8 - Between 2007 and 2010, U.S. GDP grew by only 4.26%, but the U.S. national debt soared by 61% during that same time period.
9 - The federal government has borrowed 29,660 more dollars per household since Barack Obama signed the economic stimulus law.
10 - During Barack Obama's first two years in office, the U.S. government added more to the U.S. national debt than the first 100 U.S. Congresses combined.
11 - The U.S. national debt is currently rising by well over 4 billion dollars every single day.
READ MORE HERE

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