30th August 2016
Top 6 shocking facts about the US Debt Clock
The USdebtclock.org is an official public counter that visually displays US government debt second by second. Looking at this national debt clock, one can conclude a number of important, and in some cases, shocking facts. Here are the top 6 shocking facts about the US Debt Clock:
1# US National Debt – Growing faster than ever.
Over the past decade, US National Debt has been exponentially increasing. In fact, more US debt has been added under the Obama Administration than all the previous US presidents combined! With an annual budget deficit and lower tax revenues year by year, there seems to be no light at the end of the tunnel, for US debt. The only way is higher and higher. Looking closer at the numbers, we can see the total debt split into the number of US taxpayers, which shows that every taxpayer has a debt share of approximately $162,000, and growing. Total US Debt is at $66 trillion and growing as can be seen on the website! That translates to $200,000 per Citizen and more than $800,000 per family! Total US unfunded liabilities, including Social Security and Medicare, has reached $100 trillion and growing! How long can the US economy sustain such debt levels? Only time will tell.
2# Budget Deficit – Also Growing…
Right under the US National Debt numbers (in red), we find the budget deficit (also in red). The deficit stands at $577 billion and growing. The deficit can easily be calculated by looking at total federal spending and total revenues, both are demonstrated by USdebtclock.org.
3# Gross Debt to GDP Ratio
Another important fact is the Gross US Debt to GDP ratio. The Gross Debt of the US is greater than Total US GDP (ratio of 105%). The same is found in most Western economies, including Europe and Japan. This is unsustainable in long term. A Debt-GDP ratio of 60% is considered the limit by economists. This means that crossing such a limit can threaten fiscal sustainability in the long run.
4# US Labor Force
As of today total US workforce is at 151 million, down from 155 million in 2013 out of a population of 324 million. 27 million are only part-time workers and only 127 million are full-time employees. In 2000, there were 79 million NOT in the labor force, and today, that number has reached 94 million as can be seen on USdebtclock.org.
5# Poverty & Food Stamps
There is a total of 780,000++ bankruptcies, 520,000 home foreclosures, 6.7 million convicted felons and almost 47 million living in poverty! Moreover, there are over 42 million citizens receiving government-sponsored food stamps, which enable them to buy some basic food necessities that they cannot otherwise purchase due to their low-income or unemployment status. These are official figures presented in an official government website, owned by the most economically powerful nation in the world. If that does not worry you, check the next shocking fact below.
6# Gold-Dollar Ratio, Silver-Dollar Ratio
These are the most shocking facts about the USdebtclock.org. Recently, new categories and numbers were added to the list, which give us a worrying insight about the weakness of the US dollar. The Dollar-Silver ratio is at $896 per ounce! Which means that if we divide total US dollars in circulation around the world by total physical Silver ounces, we should get the price of $896 per ounce, according to this official website. What is today’s Silver price? Around $18.5 per ounce. The Dollar-Gold ratio is $8,118 per ounce. Far bigger than the current price of Gold in US Dollars ($1323 per ounce). How long do we have to wait before we see a positive and an upward correction for Gold and Silver prices? At leaf.ae, we believe Gold and Silver prices will soon break out and reflect the truth about the weakening of global reserve currency. The most successful individuals, will realize this and ensure holding some of those precious metals as a safe haven and investment.
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