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Errol

$24.5 Trillion In Us National Debt, $144 Trillion In Unfunded Liabilities

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If anyone thought that $14 trillion in 2010 debt is bad, just wait until we hit $24.5 trillion in total US national debt in 2015. And it gets even more surreal: total US Unfunded Liabilities are estimated at $144 trillion, roughly $1.2 million per taxpayer... Was that a pin dropping?

Some other observations for the US economy in 2015 simply assuming current conditions persist:

* Federal spending will be $3.3 trillion per year, and with federal revenue of $2.3 trillion (this number will be reduced as it also assumes $731 billion in payroll tax, a number which will likely be indefinitely reduced) the result is a budget deficit of $983.7 billion.

* Annual Medicare/Medicaid expenses will be just over $1 trillion

* US population: 326.8 million

* US workforce 131.3 million (and declining)

* Officially unemployed: 19.4 million

* Actual unemployed: 22.3 million

* State/Federal employees: 17.9 million

* People on SSN and other retirees: 72.6 million

And the most critical data:

* Food stamp recipients: 89.7 million

* Foreclosures: 2 million

* Social Security Liability: $19 trillion

* Medicare Liability: $99 trillion

* Total US Unfunded Liabilities: $144 trillion

* Gross Debt to GDP: 143%

Check out the debt clock - http://usdebtclock.org/2015-current-rates.html

http://www.zerohedge.com/article/245-trillion-us-national-debt-144-trillion-unfunded-liabilities-2015

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Scary stuff!

They're already talking about cutting back on defence spending, as soon as that happens they'll start losing there super power status, which could mean more wars as there won't be a bully to tell everyone to stop fighting.

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Scary stuff!

They're already talking about cutting back on defence spending, as soon as that happens they'll start losing there super power status, which could mean more wars as there won't be a bully to tell everyone to stop fighting

More likely less wars- when the US is not actively starting them it's defence industry (and ours) are supplying the weapons. I'm always amazed to see footage of piss poor african states that feature guys in torn T shirts walking about with a quarter of a million in military hardware strapped on their backs.

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More likely less wars- when the US is not actively starting them

Indeed. The US is the main cause of war around the world. Without them we'd all be better off.

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More likely less wars- when the US is not actively starting them it's defence industry (and ours) are supplying the weapons. I'm always amazed to see footage of piss poor african states that feature guys in torn T shirts walking about with a quarter of a million in military hardware strapped on their backs.

Whilst everyone is probably correct about the US stance on the rest of the world you are talking about the China that displaces their own people from their land and gets them to work in sweat shops!

Ask the 13 african mine workers about their Chinese bosses complain and you are shot at, No super power is ever benevolent ! BTW weapon of choice in Africa AK47 about $100 (chinese built arent v reliable but cheaper and no serial numbers !)

http://www.2point6billion.com/news/2010/11/24/chinese-managers-shoot-13-african-mine-workers-8069.html

Edited by mrmagooisagovteconomist

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Whilst everyone is probably correct about the US stance on the rest of the world you are talking about the China that displaces their own people from their land and gets them to work in sweat shops!

Ask the 13 african mine workers about their Chinese bosses complain and you are shot at, No super power is ever benevolent ! BTW weapon of choice in Africa AK47 about $100 (chinese built arent v reliable but cheaper and no serial numbers !)

http://www.2point6billion.com/news/2010/11/24/chinese-managers-shoot-13-african-mine-workers-8069.html

Hmm 13 African miners vs say 50,000 Iraqis?

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Actually watch what China does. I think they will step up to be the responsible super power the World needs.

:lol:

Joke, right?

The whole point of being a superpower is to abuse the privilege.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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