Liberalism: Do You Agree We've Had Enough of It? Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Liberalism: Do You Agree We've Had Enough of It?

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Kenneth E. Phillipps who wrote (91107)	9/16/2010 11:02:46 AM
From: JakeStraw	1 Recommendation Read Replies (1) of 224706

According to the U.S. Treasury, the U.S. national debt is currently more than $13 trillion. And that's not even counting unfunded Medicare and social security liabilities. That works out to roughly $118,477 for each and every taxpayer. At the current pace, we are slipping $3.9 billion deeper in the hole every day—$163 million per hour. The federal government has now run a deficit for the longest stretch of red ink on record. In April, tax receipts totaled $245 billion, but outlays hit $328 billion. That means for every $1 taken in, we spent $1.34. For all of 2010, the deficit is projected to reach $1.5 trillion. That's an insane 780% increase in just three years. As a percentage of GDP, the gap is currently in the double-digits for the first time since World War II. And the combined shortfalls could total $9 trillion in the next decade—ballooning the debt past $20 trillion.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next