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Interesting Facts About the U.S. Debt and the Population
Interesting Facts About the U.S. Debt
Facts Concerning the U.S. National Debt
The U.S. Government current debt is $19 Trillion. The U.S. accounts for almost 30% of total national worldwide debt. It's the largest debt in U.S. history. It's more than doubled in the last 8 years. The previous record deficits were 2015, 2014 and 2013. All these occurred during the Obama Administration.
Putting it into perspective:
1) Each taxpayer in the U.S. is responsible for $154,000 of the U.S. National Debt.
The average income in the U.S. is $53,000. So it would take almost 3 years for a taxpayer to pay their portion of the National Debt. While not buying anything nor paying any taxes.
2) To pay off the U.S. National Debt, every man, woman and child needs to give the government $54,000 today.
3) You stack 19 Trillion $1 dollar bills on top of each other. The result is 4 stacks of bills that go from the earth to the moon.
4) The average debt for a College Graduate is $28,000. He/she now enters the work force. Total debt per taxpayer is $154,000 + $28,000 college debt = $182,000. Thus, before even getting a job, each college grad is now responsible for $182,000 before earning a dime.
5) Taking inflation into account, the purchasing power of wage earners has gone down by 15% in the last 8 years.
This results in higher costs for basic necessities - rent, food, clothes, etc. If the government raises taxes, your purchasing power goes down even more.
If the FED reaches it's desired inflation rate, you purchasing power goes down even more, again!
6) The National Debt does not include Government guarantees to support GSO's - government sponsored organization - whom carry debt.
GSO's are Fannie Mae, Freddie Mac, the FED ( The Federal Reserve Bank) The FED alone has $4 trillion in debt that's guaranteed by the U.S. Government. In other words, if losses occur at any of these organizations, the U.S. government gets the bill and it increases the debt.
7) I entered the work for in 1970. For every $1 earned in 1970, I'd have to earn $6.11 today to have equal purchasing power. This means, 40 years from now, all things being equal, the U.S. National Debt would have to equal 6 x $19 Trillion to achieve equal results in the Government.
8) For every manufacturing job in the U.S., there is 1.8 employees in government.
Facts About the Population in the U.S.
Interesting Facts About the U.S. Population
The U.S. population is about 350 million people. A good portion of the debt is used to support the citizens of the U.S. Let's take a look at some numbers.
1) There are 95 million people who are old enough to work, but have withdrawn from the work force.
My father's alive. He's 95 and is incapable of working. He's part of this group. Keep in mind, as you pass a homeless person, they're included in this group.
95 million people is almost 1/3 of the U.S. population. This is equal to the population of over 100 countries in the world, combined. There are 15 countries in the world that have a population greater than 95 million. The 95 million we have here in the U.S., that have chosen not to work, exceeds the population in total population in 208 countries. The 95 million nonworker's is 3 times the total population of Canada.
2) About 50% of the population receive a U.S. Government benefit check.That's close to 150 million people!
There are 8 countries in the world that have a larger population than 150 million people. The total number of people in the U.S. receiving benefits is 5 times greater than the total population of Canada. Of the least populated countries in the world, we could send a check to each person in 100 countries and have money left over. More people receive benefits than the entire population of Mexico.
3) 45 million people receive food stamps.
Of 233 countries in the world, there are 30 countries with a population greater than 45 million. 45 million exceeds 10% of the population of the U.S. If we sent 1 food stamp to each person in Canada, we'd have 10 million food stamps left. If we sent food stamps to Spain, the total population would be supported.
4) The war in Iraq and Afghanistan has cost $6 Trillion, or about 10% of the U.S.debt.
That equals $15,000 per man woman and child in the U.S.. The wars are now 15 years old, with no end in sight. This does not include Syria, Libya, Yemen, Somalia. Nor the payoff's to Iran.
5) There are approximately 20 million people working for the government. (Federal and state, military, sub-contractors, police, firefighters.)
6) 62% of American have $1,000 or less in a saving or checking account
7) The middle class is now a minority in the U.S.. The median wealth for the middle class has dropped 28% since 2001
8) Since 2000, America has lost 5 million manufacturing jobs
9) Home ownership is at the same number it was in 1965
10) 46 million people use food banks to survive
11) 40% of children are in a single parent home
12) Premiums for health care under the ACA (obamacare) have gone up over $4,000 on average per family
13) 8 million homes have been foreclosed on since 2005. Not one senior bank official has gone to jail, though banks have paid almost a $1 trillion in fines. The banks paid fines for fraud, money launder, violating SEC regulations, rigging markets, misleading investors, perjury during foreclosure procedures. The banks were rewarded with bailouts and guarantees that totaled $16 trillion
14) Concerning children in poverty, the U.S. ranks 36 out of 41 "wealthy" countries
15) More than 51 percent of workers earn less than $30,000 per year. (The "average" income in the U.S. is $53,000)
16) 87 million Americans would owe money if the died today. They couldn't afford a funeral.
17) The top 1% of American's wealth is equal to the bottom 90% of American's wealth combined.
The Results of American Politics
This is America's Ranking in the World
How does America rank in relation to the other 233 countries in the world?W
1) America Ranks 1st in prisoners - 20 million people
This equals 50% of the total prisoners in the world. Per 100,000 people, America has over 700 in jail. China, the next in line has 118 people per 100,000.
2) The U.S. ranks 14 in eduction
China, Korea Finland, Japan and Singapore are more than double the scores of U.S. students.
3) In the World Satisfaction index, the U.S. ranks 19.
Uganda, South Africa, Nicaragua and even Russia are happier than the average American
4) We were ranked 4 in health care efficiency, before obamacare.
5) The U.S. is ranked 2 in the "most stupid" people of the world.
Young people were questioned about voting patterns, teen pregnancy, unemployment rates and government leaders. 14 countries were sampled
6) The U.S. rank is 66 in religious diversity
Even China has a better diversity that the U.S., along with the Ivory Coast and S. Korea
7) In global Competitiveness America rank 3rd
Global competitiveness: “defined as the set of institutions, policies and factors that determine the level of productivity.”
8) The U.S. ranks 101 in peace
Just below Benin and just above Angola for peaceful countries. Iceland is #1
9) The U.S. ranks 46 in freedom of the press
This was a decline of 13 spots. This ranking should be important to Americans. The biggest drop in the world. This when Obama states, "We have the most transparent government, ever" The Obama Administration denied a record number of Freedom of Information requests in 2014. In 2015, 77% were denied and that was a new recored.
A journalists stated, "The Obama Administration is the worst to deal with since Nixon."
The Obama Administration tracked journalists. This led to an indictment of 2 lobbyists. It was the first time any administration had ever secretly spied on journalists, that led to an arrest. At present, the Government refuses to release the information on why the two journalist were spied on.
10) The U.S. ranks 24th in Literacy
Please take a short poll
Do you feel the U.S. debt will be paid off in your life time?
Please answer 1 more question
Do you feel the leaders of America have let you down?
The U.S. Debt - Bankruptcy of Hyperinflation?
Economics is not a "fun" subject. But, neither is hard work!
Perter Schiff writes to explain to people of all educational levels the dangers facing the U.S. with it's burgeoning debt.
Eventually, one of two things has to happen - bankruptcy or hyperinflation. Both can cause havoc in a country for decades.
Once you understand the premise, then you can take actions to protect yourself, albeit not completely, from what the future holds.
If you don't understand the problem, you cannot find the solution.
This book will help you understand the problem, and this, in turn, will help you with solving the question of what to do to protect yourself.
An excellent read. Like the results of hard work, a pleasure when finished, if you understand what he's written!