The U.S. government’s newest economic report is raising questions about the sustainability of our nation’s current fiscal policy. Included in the report:
The government’s net position is NEGATIVE $18 trillion.
Social Security liabilities alone are $39 trillion, which translates into $120,000 for each man, woman and child in the United States.
If you bought into the Dow Jones stock market in 2007 and got out today, your gain would be about 27%. After adjusting for capital gains and inflation, however, your net gain is only 2.5% per year.
If you bought into the Dow in 2000 you’d have a 52% return today. Again, though, inflation and taxes wipe out much of those returns and leave you with a paltry 1.91% annual gain.
The government says the unemployment rate is 5.6%. Unfortunately, this figure does not account for people who gave up on looking for a job, people who sold something on eBay, or even people who earned $20 mowing lawns. The real unemployment rate is closer to 20%.
If you believe that the government should give it to us straight instead of skewing the facts, Like and Share this post.