Sunday, July 25, 2010

50 Statistics About The U.S. Economy That Are Almost Too Crazy To Believe

Some amazing statistics to be sure. What I think is interesting is the supreme disconnect between some people and how bad it really is out there. I say now is the time to begin reducing government worker pensions and pay.

The thing is it probably will take widespread municipal defaults before these workers have their pay cut. A public school teacher has no business making $100,000 a year, sorry. There are cops in some counties in California that on average make $120,000 per year. On average. Some of these guys are making 200K. That is absolutely crazy. This of course does not take into account the pensions many of these people have which are far better than anything in the private sector.

It is robbery plain and simple. And on the pension issue, as these pensions begin to default the recipients likely will now expect the taxpayers to pick up this bill. It is a parasitic economy.

#50) In 2010 the U.S. government is projected to issue almost as much new debt as the rest of the governments of the world combined.

#49) It is being projected that the U.S. government will have a budget deficit of approximately 1.6 trillion dollars in 2010.

#48) If you went out and spent one dollar every single second, it would take you more than 31,000 years to spend a trillion dollars.

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Nick Sorrentino is the Editor of The Liberty and Economics Review and CEO of a social media management company.