Thursday, May 13, 2010
Deficits, Debts and Unfunded Liabilities
Some the trenchant points in this Center for Freedom and Prosperity video:
1) Federal deficits will average $1 trillion per year from now on.
2) The national debt is 60% of GDP today but is set to rise to 90% of GDP by 2020.
3) The Public Held Debt is how much money the federal government has borrowed from private credit markets to finance deficit spending--this stands at $9.9 trillion!
4) The Gross Federal Debt includes the Public Held Debt plus what the treasury has borrowed from other government accounts--such as the social security trust fund--and this debt stands at $14.5 trillion!!
Is it no wonder why gold has hit a new record high of $1,242.70 an ounce.
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2 comments:
No need to worry, the Keynesians will make everything better!! :-)
I am glad I purchased my gold 2 years ago, it's the only thing maintaining its value.
Good on you for the gold move. I think that it is definitely going to head higher; I expect record territory for some time.
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