We are focusing our discussion this week on a topic that should concern each and every American, the U.S. debt. Many "normal" Americas that don't spend their time reading financial blogs may wonder why there is so much focus and concern these days about the U.S. deficit and total debt. We have always had deficits and debt, right? Yes, for the most part, however the concern is that if we continue on this current trend we will soon arrive at a place nobody ever dreamed we would see in our lifetimes. That is the day the statement "backed by the full faith and credit of the United States government" no longer has any value. It is hard to comprehend the amount of devastation and despair that we will endure if that day ever comes.
Let's start the week off with perhaps the most disturbing fact that very few people realize....
TOTAL U.S UNFUNDED LIABILITIES NOW STAND AT $112 TRILLION, 51% MORE THAN THE GDP OF THE ENTIRE WORLD ($74 TRILLION) IN 2010!!
Below is a screen shot of the U.S. debt situation.....
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