The U.S. Economy by the Numbers: 70 Facts

theeconomiccollapseblog.com

The U.S. Economy by the Numbers: 70 Facts That Barack Obama Does Not Want You To See
I first ran across this article in an email from Glenn Beck.  I couldn’t comprehend the facts and figures—they were so mind blowing.  So, I decided to group them under headings as an attempt to understand what they were trying to say.  In a nutshell, the fact is “we are headed for a national economic nightmare.”   The article continues: 

“So why does the title of the article single out Barack Obama? Well, it is because right now he is the biggest cheerleader for the economy. He is attempting to convince all of us that everything is just fine and that the economy is heading in a positive direction. Well, the truth is that everything is not fine and things are about to get a whole lot worse. Certainly others should share in the blame as well. Congress has been steering the economy in the wrong direction for decades, the ‘too big to fail’ banks have turned Wall Street into a pyramid of risk, leverage and debt, and the Federal Reserve has more power over the financial system than anyone else does. Our economy has been in decline for quite a while now, and soon we are going to smash directly into an economic brick wall.”

 

Don’t stick your head in the sand. Look at these facts and numbers. Everything is verified if you follow the links—theeconomiccolapseblog.com - reference: economy by the numbers 70 facts

Poverty

22 - It is hard to believe, but today the poverty rate for children living in the United States is a whopping 22 percent

48 - Shockingly, at this point 48 percent of all Americans are either considered to be "low income" or are living in poverty.

$10,000 - According to the Employee Benefit Research Institute, 46 percent of all American workers have less than $10,000 saved for retirement, and 29 percent of all American workers have less than $1,000 saved for retirement

2,600,000 - In 2010, 2.6 million more Americans fell into poverty.  That was the largest increase that we have seen since the U.S. government began keeping statistics on this back in 1959.

Wealth

90 - In the United States today, the wealthiest one percent of all Americans have a greater net worth than the bottom 90 percent combined.

93 - The United States now ranks 93rd in the world in income inequality

350 - The average CEO now makes approximately 350 times as much as the average American worker makes

400 - According to Forbes, the 400 wealthiest Americans have more wealth than the bottom 150 million Americans combined.

$361,330 - This is what the average banker in New York City made in 2010

Lifestyle

42 - According to one survey, 42 percent of all American workers are currently living paycheck to paycheck

60 - According to a recent Gallup poll, only 60 percent of all Americans say that they have enough money to live comfortably

80 - Americans buy 80 percent of the pain pills sold on the entire globe each year

$4155 - The average American household spent a staggering $4,155 on gasoline during 2011

25,000,000 - Today, approximately 25 million American adults are living with their parents

$147,000,000,000 - In the U.S., medical costs related to obesity are estimated to be approximately 147 billion dollars a year

Housing

35 - U.S. housing prices are now down a total of 35 percent from the peak of the housing bubble

Employment

30 - Back in 2007, about 10 percent of all unemployed Americans had been out of work for 52 weeks or longer.  Today, that number is above 30 percent

40 - The official U.S. unemployment rate has been above 8 percent for 40 months in a row

53 - Last year, an astounding 53 percent of all U.S. college graduates under the age of 25 were either unemployed or underemployed

95 - The middle class continues to shrink - 95 percent of the jobs lost during the last recession were middle class jobs

877 - 20,000 workers recently applied for just 877 jobs at a Hyundai plant in Montgomery, Alabama

50,000 - The United States has lost an average of approximately 50,000 manufacturing jobs a month since China joined the World Trade Organization in 2001

500,000 - According to the Economic Policy Institute, America is losing half a million jobs to China every single year

5,400,000 - When Barack Obama first took office there were 2.7 million long-term unemployed Americans.  Today there are twice as many.

40,000,000 - According to Professor Alan Blinder of Princeton University, 40 million more U.S. jobs could be sent offshore over the next two decades if current trends continue

88,000,000 - Today there are more than 88 million working age Americans that are not employed and that are not looking for employment.  That is an all-time record high.

100,000,000 - Overall, there are more than 100 million working age Americans that do not currently have jobs.

Business

23 - According to U.S. Representative Betty Sutton, an average of 23 manufacturing facilities permanently shut down in the United States every single day during 2010.

627 - In 2010, China produced 627 million metric tons of steel.  The United States only produced 80 million metric tons of steel

900 - Auto parts exports from China to the United States have increased by more than 900 percent since the year 2000

56,000 - The United States has lost more than 56,000 manufacturing facilities since 2001.

$85,000 - According to the New York Times, a Jeep Grand Cherokee that costs $27,490 in the United States costs about $85,000 in China thanks to all the tariffs.

2,000,000 - Family farms are being systematically wiped out of existence in the United States.  According to the U.S. Department of Agriculture, the number of farms in the United States has fallen from about 6.8 million in 1935 to only about 2 million today.

$2,000,000,000 - The amount of money that JP Morgan has admitted that it will lose from derivatives trades gone bad.  Many analysts are convinced that the real number will actually end up being much higher

$200,000,000,000,000 - Today, the 9 largest banks in the United States have a total of more than 200 trillion dollars of exposure to derivatives.  When the derivatives market completely collapses there won't be enough money in the entire world to fix it. 

A recent Bloomberg article defined derivatives....(see theeconomiccollapseblog.com) 
Derivatives are financial instruments used to hedge risks or for speculation. They’re derived from stocks, bonds, loans, currencies and commodities, or linked to specific events such as changes in the weather or interest rates.

Economy

$3.59 - When Barack Obama entered the White House, the average price of a gallon of gasoline was $1.85.  Today, it is $3.59

63 - One recent survey found that 63 percent of all Americans believe that the U.S. economic model is broken

71 - Today, 71 percent of all small business owners believe that the U.S. economy is still in a recession

$1580 - When Barack Obama first took office, an ounce of gold was going for about $850.  Today an ounce of gold costs more than $1580 an ounce

2016 - It is being projected that the Chinese economy will be larger than the U.S. economy by the year 2016

$4300 - The amount by which real median household income has declined since Barack Obama entered the White House

49,000 - In 2011, our trade deficit with China was more than 49,000 times larger than it was back in 1985

295,500,000,000 - Our trade deficit with China in 2011 was $295.5 billion.  That was the largest trade deficit that one country has had with another country in the history of the planet

Taxes

107 - Each year, the average American must work 107 days just to make enough money to pay local, state and federal taxes

Government spending

32 - The amount of money that the federal government gives directly to Americans has increased by 32 percent since Barack Obama entered the White House

49 - Today, an astounding 49.1 percent of all Americans live in a home where at least one person receives benefits from the government

$175,587 - The Obama administration spent $175,587 to find out if cocaine causes Japanese quail to engage in sexually risky behavior.

$328,404 - Over the next 75 years, Medicare is facing unfunded liabilities of more than 38 trillion dollars.  That comes to $328,404 for each and every household in the United States

16,000,000 - It is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.

$20,000,000 - The amount of money the U.S. government was spending to create a version of Sesame Street for children in Pakistan

46,405,204 - The number of Americans currently on food stamps.  When Barack Obama first entered the White House there were only 32 million Americans on food stamps.

$150,000,000 - This is approximately the amount of money that the Obama administration and the U.S. Congress are stealing from future generations of Americans every single hour

Debt

61 - At this point the Federal Reserve is essentially monetizing much of the U.S. national debt.  For example, the Federal Reserve bought up approximately 61 percent of all government debt issued by the U.S. Treasury Department during 2011.

81 - Credit card debt among Americans in the 25 to 34 year old age bracket has risen by 81 percent since 1989

1700 - Consumer debt in America has risen by a whopping 1700% since 1971

440,000 - If the federal government began right at this moment to repay the U.S. national debt at a rate of one dollar per second, it would take over 440,000 years to totally pay it off.

$2,000,000 - At this point, the U.S. national debt is rising by more than 2 million dollars every single minute.

$359,100,000,000 - During the first quarter of 2012, U.S. public debt rose by 359.1 billion dollars.  U.S. GDP only rose by 142.4 billion dollars.

$454,000,000,000 - During fiscal 2011, the U.S. government spent over 454 billion dollars just on interest on the national debt.

$1,000,000,000,000 - The total amount of student loan debt in the United States recently surpassed the one trillion dollar mark

$1,170,000,000,000 - China now holds approximately 1.17 trillion dollars of U.S. government debt.  Yet the U.S. government continues to send them millions of dollars in foreign aid every year.

$1,600,000,000,000 - The amount that has been added to the U.S. national debt since the Republicans took control of the U.S. House of Representatives.  This is more than the first 97 Congresses added to the national debt combined.

$5,000,000,000,000 - The U.S. national debt has risen by more than 5 trillion dollars since the day that Barack Obama first took office.  In a little more than 3 years Obama has added more to the national debt than the first 41 presidents combined.

$5,000,000,000,000 - What the real U.S. budget deficit in 2011 would have been if the federal government had used generally accepted accounting principles.

$11,440,000,000,000 - The total amount of consumer debt in the United States.

$15,734,596,578,458.59 - The U.S. national debt as of June 7, 2012

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