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Numbing US Numbers !!

  • George Bush and the Feds have borrowed more than $1.05 trillion from foreign governments and banks. This is more than all the rest of the nation’s administrations put together, from 1776 to 2000.
  • Last month [Nov 2005], the U.S. national debt passed the $8 trillion mark
  • This year’s budget deficit alone added $319 billion to the country’s obligations
  • According to the feds themselves, deficits will rise to $873 billion per year within 10 years
  • Two years more and they will be at $1 trillion per year, with a national debt edging up to $20 trillion
  • By 2017, annual deficits are supposed to reach $2 trillion per year.
  • U.S. households spent $531 billion more than their after-tax earnings. [About half of that money came from “equity extraction.”]
  • Consumer spending has risen to 76% of the economy; before 2000, it was only two-thirds.
  • The savings rate has fallen to less than 2%
  • Student loans outstanding have risen more than 800%
  • Mortgages are up nearly 900%
  • Credit card debt is up more than 500%.
:) Falkor

Source: Bill Bonner

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