Money Problems That Never Seem To End: 25 Reasons To Be Absolutely Disgusted With The U.S. Economy

Money Problems That Never Seem To End: 25 Reasons To Be Absolutely Disgusted With The U.S. Economy - BlackListedNews.com

The following are 25 reasons to be absolutely disgusted with the U.S. economy….

#1 There are now 6.4 million fewer jobs in America than there were when the recession began.

#2 In Southern California, the average price of a gallon of gasoline is $1.00 higher than it was at this time last year.

#3 The average price of gasoline in the United States has jumped about 20 cents in just the last two weeks.

#4 Over the past 12 months the average price of gasoline in the United States has gone up by about 30%.

#5 In the 8 days leading up to the “historic” $38.5 billion budget deal, the U.S. national debt increased by $54.1 billion dollars.

#6 The $38.5 billion in budget cuts that the Republicans and the Democrats have agreed to represent approximately one percent of the federal budget.

#7 During the 2010 campaign, the Republicans promised voters they would cut $100 billion from the budget for 2011. Instead, they gave in when the Democrats offered just $38.5 billion.

#8 The Obama administration had been estimating that the federal budget deficit for fiscal 2011 would be approximately 1.6 trillion dollars. Now it will likely be somewhere around 1.55 trillion dollars which will still be an all-time record.

#9 According to numbers released by Deloitte Consulting, a whopping875,000 Americanswere “medical tourists” in 2010.

#10 The median pay for CEOs increased by 27 percent during 2010.

#11 Thanks to globalism, U.S. workers now must directly compete for jobs with workers in places such as Indonesia. In Indonesia, full-time workers make as little as two dollars a day. So how are Americans supposed to compete with that?

#12 Last week, the price of gold set a new all-time record on Tuesday, on Wednesday, on Thursday and on Friday.

#13 The price of silver rose almost 7 percent last week alone.

#14 Total home mortgage debt in the United States is now about 5 times larger than it was just 20 years ago.

#15 According to the Economic Policy Institute, almost 25 percent of U.S. households now have zero net worth or negative net worth. Back in 2007, that number was just 18.6 percent.

#16 Americans now owe more than $903 billion on student loans.

#17 According to the New York Times, as of 2009 the wealthiest 5 percent of all Americans had 63.5 percent of all the wealth in America. Meanwhile, the bottom 80 percent had just 12.8 percent of all the wealth.

#18 According to a recent report from the National Employment Law Project, higher wage industries accounted for 40 percent of the job losses over the past 12 months but only 14 percent of the job growth. Lower wage industries accounted for just 23 percent of the job losses over the past 12 months and a whopping 49 percent of the job growth.

#19 The first week of air strikes in Libya cost the U.S. government about 600 million dollars.

#20 The price of corn has more than doubled over the past year.

#21 According to the U.S. Bureau of Labor Statistics, the average length of unemployment in the U.S. is now an all-time record 39 weeks.

#22 Back in the 1950s, corporate taxes accounted for about 30 percent of all federal revenue. Today they account for less than 7 percent of all federal revenue.

#23 If the U.S. government eliminated all discretionary spending and all defense spending it would still not balance the budget.

#24 It is being projected that U.S. government debt will rise to about 400 percent of GDPby the year 2050.

#25 Americans spend approximately 27.7 billion dollars a year preparing their tax returns.

That last statistic really gets me. During the month of April the American people are going to be spending massive amounts of time and money to prepare their taxes.

But what do Americans get in return for their taxes?