‘ ‘Why is the economy going
to collapse? Have you ever been asked that question? If so, what
did you say? Sometimes it is difficult to communicate dozens of
complicated economic and financial concepts in a package that the average
person on the street can easily digest. It can be very frustrating to
know that something is true but not be able to explain it clearly to someone
else. Hopefully many of you out there will find the list below
useful. It is a list of 70 numbers that show why we are headed for a
national economic nightmare. So why does the title of the article single
out Barack Obama? Well, it is because right now he is the biggest
cheerleader for the economy. He is attempting to convince all of us that
everything is just fine and that the economy is heading in a positive
direction. Well, the truth is that everything is not fine and things are
about to get a whole lot worse. Certainly others should share in the
blame as well. Congress has been steering the economy in the wrong
direction for decades, the "too big to fail" banks have turned Wall
Street into a pyramid of risk, leverage and debt, and the Federal Reserve has
more power over the financial system than anyone else does. Our economy
has been in decline for quite a while now, and soon we are going to smash
directly into an economic brick wall. Unfortunately, a lot of Americans
are in denial about this. A lot of people out there doubt that an
economic collapse is coming. Well, if you know someone that believes that
The following are 70 facts that Barack Obama does not want you to see....
$3.59 - When Barack Obama entered the White House, the average price of a gallon of gasoline was $1.85. Today, it is $3.59.
22 - It is
hard to believe, but today the poverty rate for children living in the
According to U.S. Representative Betty Sutton, an average of 23 manufacturing
facilities permanently shut down in the
30 - Back in 2007, about 10 percent of all unemployed Americans had been out of work for 52 weeks or longer. Today, that number is above 30 percent.
32 - The amount of money that the federal government gives directly to Americans has increased by 32 percent since Barack Obama entered the White House.
40 - The
42 - According to one survey, 42 percent of all American workers are currently living paycheck to paycheck.
48 - Shockingly, at this point 48 percent of all Americans are either considered to be "low income" or are living in poverty.
49 - Today, an astounding 49.1 percent of all Americans live in a home where at least one person receives benefits from the government.
According to a recent
61 - At this
point the Federal Reserve is essentially monetizing
much of the
63 - One
recent survey found that 63 percent of all Americans believe that
71 - Today,
71 percent of all small business
owners believe that the
80 - Americans buy 80 percent of the pain pills sold on the entire globe each year.
81 - Credit card debt among Americans in the 25 to 34 year old age bracket has risen by 81 percent since 1989.
85 - 85 percent of all artificial Christmas trees are made in China.
86 - According to one survey, 86 percent of Americans workers in their sixties say that they will continue working past their 65th birthday.
90 - In the
93 - The United States now ranks 93rd in the world in income inequality.
95 - The middle class continues to shrink - 95 percent of the jobs lost during the last recession were middle class jobs.
107 - Each year, the average American must work 107 days just to make enough money to pay local, state and federal taxes.
350 - The average CEO now makes approximately 350 times as much as the average American worker makes.
400 - According to Forbes, the 400 wealthiest Americans have more wealth than the bottom 150 million Americans combined.
$500 - In some
627 - In 2010,
877 - 20,000
workers recently applied for just 877 jobs at a Hyundai plant in
900 - Auto parts
$1580 - When Barack Obama first took office, an ounce of gold was going for about $850. Today an ounce of gold costs more than $1580 an ounce.
1700 - Consumer
2016 - It is
being projected that the Chinese economy will be larger than the
$4155 - The average American household spent a staggering $4,155 on gasoline during 2011.
$4300 - The amount by which real median household income has declined since Barack Obama entered the White House.
$6000 - If you
can believe it, the median price of a home in
$10,000 - According to the Employee Benefit Research Institute, 46 percent of all American workers have less than $10,000 saved for retirement, and 29 percent of all American workers have less than $1,000 saved for retirement.
49,000 - In 2011,
our trade deficit with
50,000 - The
56,000 - The
According to the New York Times, a Jeep Grand
Cherokee that costs $27,490 in the
$175,587 - The Obama administration spent $175,587 to find out if cocaine causes Japanese quail to engage in sexually risky behavior.
$328,404 - Over the
next 75 years, Medicare is facing unfunded liabilities of more than 38 trillion
dollars. That comes to $328,404 for each and every household in
$361,330 - This is
what the average banker in
440,00 - If the
federal government began right at this moment to repay the
According to the Economic Policy Institute,
2,000,000 - Family farms are being systematically wiped out of
existence in the
$2,000,000 - At this
5,400,000 - When Barack Obama first took office there were 2.7 million long-term unemployed Americans. Today there are twice as many.
16,000,000 - It is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.
$20,000,000 - The
amount of money the
25,000,000 - Today, approximately 25 million American adults are living with their parents.
According to Professor Alan Blinder of
46,405,204 - The number of Americans currently on food stamps. When Barack Obama first entered the White House there were only 32 million Americans on food stamps.
88,000,000 - Today there are more than 88 million working age Americans that are not employed and that are not looking for employment. That is an all-time record high.
100,000,000 - Overall, there are more than 100 million working age Americans that do not currently have jobs.
$150,000,000 - This is
approximately the amount of money that the Obama administration and the
$2,000,000,000 - The amount of money that JP Morgan has admitted that it will lose from derivatives trades gone bad. Many analysts are convinced that the real number will actually end up being much higher.
$147,000,000,000 - In the
295,500,000,000 - Our
trade deficit with
$359,100,000,000 - During
the first quarter of 2012,
$454,000,000,000 - During
fiscal 2011, the
$1,000,000,000,000 - The
total amount of student loan debt in the
$1,600,000,000,000 - The
amount that has been added to the
$5,000,000,000,000 - The U.S. national debt has risen by more than 5 trillion dollars since the day that Barack Obama first took office. In a little more than 3 years Obama has added more to the national debt than the first 41 presidents combined.
$5,000,000,000,000 - What the
$11,440,000,000,000 - The
total amount of consumer debt in the
$15,734,596,578,458.59 - The
$200,000,000,000,000 - Today,
the 9 largest banks in the