Wednesday, May 2, 2012

Congress Has The Power

End of the day it hardly matters who's POTUS if congress continues to spend more money than we take in and take from the producers to give to the non-producers. How long can we really keep that up? It's a formula for bankruptcy, failure, and dissolution. According to the numbers, entitlements and interest will equal revenue by 2025. That's 13 years. So unless the congress gets serious about spending and reform, who cares about the White House? It will have to be sold off in an asset sale anyway. Here's some not so shocking numbers.

STATE OF THE FEDERAL DEBT
National Debt: $15.62 trillion(source)
Debt per American: $49,904(source)
Debt per Household: $$136,270(source)
Net Interest on the Debt: $211.4 billion (first six months of fiscal year)(source)
STATE OF THE BUDGET
Budget Deficit (April): $198.2 billion(source)
Budget Deficit (FY2012 to Date): $778.99 billion(source)Budget Deficit (FY2011): $1.297 trillion(source) 
Consecutive Months of Budget Deficit: 42(source) 
Revenue (Fiscal Year to Date): $1.066 trillion(source)
Spending (Fiscal Year to Date): $1.842 trillion(source)
STATE OF THE ECONOMY
Economic Growth: 3.0 percent (fourth quarter preliminary)(source)
Trade Deficit: $46.0 billion (February 2012)(source) 
Unemployment: 8.2 percent (March 2012)(source)
Jobs Created in 2011: 1.84 million(source)
States with the Highest Unemployment (source):
NV (12.0 percent), RI (11.1 percent), CA (11.0 percent), NC (9.7 percent), FL, GA, MS, NJ (9.0 percent)
States with the Lowest Unemployment(source):
ND (3.0 percent), NE (4.0 percent), SD (4.3 percent), VT (4.9 percent), IA, NH (5.2 percent)

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