Random Statistics

NATIONWIDE - Over the last 20 years (i.e., 12/31/90 to 12/31/10), the value of assets owned by Americans tripled in value to $71 trillion, but the value of the total liabilities owed by Americans has nearly quadrupled in value to $14 trillion. Thus the net worth of Americans as of 12/31/10 was $57 trillion (source: Federal Reserve).

DOUBLE-BIG - The USA has created as much national debt for our country in the last 7 years as we created in our country’s history up to 7 years ago. As of 4/30/04, the total debt of the US government was $7.13 trillion. As of 4/30/11, the total debt of the US government was $14.29 trillion (source: Treasury Department).

TOO MUCH LIKE PORTUGAL - As part of its $116 billion bailout plan offered from the International Monetary Fund and the European Union, Portugal is required to reduce its annual budget deficit from 9.1% of GDP in 2010 to 5.9% of GDP in 2011. The USA’s annual budget deficit was 8.9% of GDP in 2010 and is projected to be 10.9% of GDP in 2011. Gross Domestic Product (GDP) is the annual market value of all goods and services produced domestically by a country (source: Office of Management and Budget).

DOWN FOR ALL - The top 1% of taxpayers paid an average tax rate (i.e., federal income taxes paid as a percentage of adjusted gross income) of 34.5% in 1980, but paid only 23.3% in 2008 (the latest year that data is available). The bottom 50% of taxpayers paid an average tax rate of 6.1% in 1980, but paid only 2.6% in 2008 (source: Internal Revenue Service).

TODAY - The US government estimated on 4/04/11 that we would reach our $14.3 trillion debt ceiling no later than 5/16/11. Accounting techniques will push the date out 11 weeks to 8/02/11 (source: Treasury Department).

Source;  BY THE NUMBER$  5/16/2011 Edition

You gotta love that last stat...."accounting techniques will push the date out 11 weeks".  What kind of accounting techniques?  Could those be the same techniques Enron was using in 2002?  Of the same techniques that Bernie Madoff was using?

And how about that stat that the USA created more national debt in the last 7 years than in the previous 235 years.  Now that's progress!!