Unemployment is not in the 5% range as reported but rather closer to 25%. Although the markets remain at lofty levels, this controlled house of cards will come tumbling down in due time. The days of the U.S dollar serving as the world’s reserve currency is coming to an end. The derivatives exposure is in the quadrillions. The move to eliminate cash is being chipped away at on a global basis. The first bond to be sold with a negative yield. The Euro and the European union are collapsing. Then consider this.
As of February 29, 2016, the official debt of the United States government is $19.1 trillion ($19,125,455,057,426). This amounts to:
$59,196 for every person living in the U.S.
$153,511 for every household in the U.S.
105% of the U.S. gross domestic product.
548% of annual federal revenues.
At the close of the federal government’s 2015 fiscal year (September 30, 2015), the federal government had roughly:
$8.3 trillion ($8,279,000,000,000) in liabilities that are not accounted for in the publicly held national debt, such as federal employee retirement benefits, accounts payable, and environmental/disposal liabilities.
$26.7 trillion ($26,661,000,000,000) in obligations for current Social Security participants above and beyond projected revenues from their payroll and benefit taxes, certain transfers from the general fund of the U.S. Treasury, and assets of the Social Security trust fund.
$28.5 trillion ($28,500,000,000,000) in obligations for current Medicare participants above and beyond projected revenues from their payroll taxes, benefit taxes, premium payments, and assets of the Medicare trust fund. For additional vital statistics click here and here.
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