More bad news
Bush's Borrow and Squander economic policies have led to the highest debt our country's ever been in
The Federal Reserve has released the latest Flow of Funds report. This is a veritable goldmine of economic information about the US economy. There are a few points that really stand out to my mind.
All the figure area annually projected numbers.
Total debt outstanding -- that is personal, corporate and government debt outstanding -- is $31.758 trillion. Total US GDP is $14.196 trillion. That means that there is 2.23 times the amount of debt in the US relative to the total value of the US economy.
Total household debt is $13.960 trillion. That means total household debt as a percentage of GDP is 98.33%. Disposable income at the national level is $10.502 trillion. That means that total household debt is 132.92% of disposable income at the national level.
That's a ton of debt, isn't it? That means that the US, personally, corporately and governmentally owes 2.23 times as much as we're worth.
bush's Borrrow and Squander policies have led this country to the brink of disaster
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When you can't think what to do, throw a grenade
Last edited by exlrrp; 06-09-2008 at 07:25 AM.
Reason: You are not my Mom, I don't have to answer that
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