(Our hat is off to this web developer who linked a dash board to national information sources, determined the real time velocity of the numbers and did some running math so we don't have to....good job//)
What does it all mean...(Using this snapshot)
- Overall Comment: It means the US Taxpayer and the Nation are in deep financial trouble.
- Debt: 12+ trillion dollars and growing...supported by a scant one third (1/3) of the population at the tune of $112,000+ per taxpayer. This is equivalent to each taxpayer carrying an additional house mortgage on their back besides their existing personal home mortgage.
- Welfare: More than 1 in 10 or (11.1%) of the population are receiving food stamps. This means that roughly 3 taxpayers are paying for the basic food needs of a single recipient.
- Debt to GDP: At 84.31 % this means that the debt of the Nation is approaching the annual output of the Nation (all domestic companies and individuals within US borders and territories). The only time this has ever occurred was following the Great Depression of the 30's where Government spending approached 50% of GDP. This is an important metric to watch as this is a good heath indicator of the country.
- Unfunded Liabilities: This is active liabilities the Government presently has on the books for Social Security, Medicare Part B and D, etc. Think about the value of 104 Trillion for a minute. There is no way the Feds can pay out these liabilities over the coming decade and beyond. This means Taxes will need to rise substantially for those 109 million taxpayers and benefits will need to come down substantially to meet any level of fiscal responsibility. That's $980,000 per taxpayer. WOW.
