Monday, January 9, 2012

The U.S. Economy is Unsustainable - YouTube

The U.S. Economy is Unsustainable - YouTube:

David Walker.... Former President of the Government Accounting Office. This was in 2008, before we did all the stimulus spending to bump us out of the recession.

... ONLY This quarter, the US debt exceeded the US economy. US Economy is now (back) up to $15+T; The US Debt is now up above that!:-(

Check out the US Debt Clock. It's hard to keep up with since the numbers are changing so fast, but $15.2T is the debt and $15.1 is the GDP.

Wanna hear what Fox news has to say about this, go to Fox. But their giving Obama too much credit for our debt. Virtually none of the healthcare bill has kicked in for example... and we continue to run almost 10% increases in healthcare costs. There's been a lot of tax cuts and tax credits over the last 3 years.

'via Blog this'

1 comment:

  1. Oops. Just out is that the US Healthcare spending only increased by 3.9%... And that's, in part, because people aren't doing the healthcare thing because they can't afford it. So, when everyone does need healthcare, it's gonna be really, really expensive. The numbers are actually pretty complicated. We'll see how it unfolds.