Friday, January 06, 2012

The US Debt Is Still Too Big To Be Paid - Ever....

6 January 2011

I've often posted on this topic.

The US cannot pay its bills, except by the "extend and pretend" method of printing more money.

By the time all the money is printed to pay the bills, the integrity of the US dollar will certainly be called into question.

Here are just a few of the facts:

1. Every American man, woman and child is accountable for $135,000 in future tax liabilities.

2. Combined federal, state and local government expenditures amount to 46.6% of GDP.

3. Federal debt to GDP now exceeds 100%.

4. The government pays more money to US citizens than US citizens pay in taxes.

5. The government's fiscal gap now stands at $211 trillion (this is money committed to be paid in future for which no source of revenue has been identified).

Here's the link to the bad news - click here.

No comments:

Post a Comment