Showing posts with label federal deficits growing larger. Show all posts
Showing posts with label federal deficits growing larger. Show all posts
Sunday, June 26, 2011
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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