The U.S. Economy 2011
Fact 1: One out of every seven Americans has at least 10 credit cards.
Fact 2: 59 percent of all Americans now receive money from the federal government in one form or another.
Fact 3: According to Gallup, 41 percent of Americans believed that the economy was “getting better” at this time last year. Today, that number is at just 27 percent.
Fact 4: Standard & Poor’s has altered its outlook on U.S. government debt from “stable” to “negative” and is warning that the U.S. could soon lose its AAA rating.
Fact 5: The U.S. government now says that the Medicare trust fund will run out five years faster than they were projecting just last year.
Fact 6: The number of “low income jobs” in the U.S. has risen steadily over the past 30 years and they now account for 41 percent of all jobs in the United States.
Fact 7: The U.S. dollar is in such bad shape that now even Steve Forbes is predicting that the U.S. is “likely” to go back to a gold standard within the next five years.
Fact 8: Most Americans don’t realize how much the U.S. dollar has been devalued over the years. An item that cost $20.00 in 1970 would cost you $115.93 today. An item that cost $20.00 in 1913 would cost you $454.36 today.
Fact 9: Over the past 12 months the average price of gasoline in the United States has gone up by about 30%.
When 2007 began, there were about 26 million Americans on food stamps. Today, there are over 44 million on food stamps, and one out of every four American children is on food stamps.
Fact 10: Back in 1965, only one out of every 50 Americans was on Medicaid. Today, one out of every 6 Americans is on Medicaid.
Fact 11: During the first three months of this year, less new homes were sold in the U.S. than in any three month period ever recorded.
Fact 12: All over the United States, many of our once great manufacturing cities are being transformed into hellholes. In the city of Detroit today, there are over 33,000 abandoned houses, 70 schools are being permanently closed down, the mayor wants to bulldoze one-fourth of the city and you can literally buy a house for one dollar in the worst areas.
Fact 13: America’s real estate crisis just seems to get worse and worse. U.S. home prices have now fallen a whopping 33% from where they were at during the peak of the housing bubble.
Fact 14: America’s real estate crisis just seems to get worse and worse. U.S. home prices have now fallen a whopping 33% from where they were at during the peak of the housing bubble.
Fact 15: According to one study, the 50 U.S. state governments are collectively 3.2 trillion dollars short of what they need to meet their pension obligations.
Fact 16: A different study has shown that individual Americans are $6.6 trillion short of what they need to retire comfortably.
Fact 17: The cost of college tuition in the United States has gone up by over 900 percent since 1978.
Fact 18: The combined debt of the major GSEs (Fannie Mae, Freddie Mac and Sallie Mae) has increased from 3.2 trillion in 2008 to 6.4 trillion in 2011. Thanks to our politicians, U.S. taxpayers are standing behind that debt.