“The Economic Collapse” has published a list of 70 facts that show why the US is headed for a national economic nightmare.
The headline singles out US President Obama because he is the biggest cheerleader for the economy, attempting to convince Americans that everything is fine. Everything is not fine, and things are about to get a lot worse. Certainly others should share the blame: Congress, the ‘too big to fail’ banks and the Fed.
The US economy has been in decline for some time, and will soon hit a brick wall. Unfortunately, many Americans are in denial, and doubt that an economic collapse is coming. They should read the 70 facts. A sampling:
$200,000,000,000,000—Today, America’s 9 largest banks have a derivatives exposure of more than $200 trillion. When that market collapses, there won’t be enough money in the entire world to fix it.
$150,000,000—Approximately how much the Obama administration and the US Congress are stealing from future generations of Americans every single hour.
$15,734,596,578,458.59—US national debt as of June 7, 2012.
$11,440,000,000,000—Total amount of consumer debt in the US.
$5,000,000,000,000—What the US budget deficit in 2011 would have been if the federal government had used generally accepted accounting principles.
$5,000,000,000,00—US national debt has risen by more than $5 trillion since the day Obama took office. In 3 years, he has added more to the national debt than the first 41 presidents combined.
$1,170,000,000,000—China now holds approximately $1.17 trillion of US government debt. Yet the US continues to send them millions of dollars in foreign aid every year.
$454,000,000,000—During fiscal 2011, the US spent over $454 billion just on interest on the national debt.
To read Economic Collapse article: 70 Facts That Barack Obama Does Not Want You to See
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