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14 Eye Opening Statistics Which Reveal Just How Dramatically The U.S. Economy Has Collapsed Since 2007

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Most Americans have become so accustomed to the “new normal” of continual economic decline that they don’t even remember how good things were just a few short years ago.  Back in 2007, unemployment was very low, good jobs were much easier to get, far fewer Americans were living in poverty or enrolled in welfare programs and government finances were in much better shape.  Of course most of this prosperity was fueled by massive amounts of debt, but at least times were better.  Unfortunately, things have really deteriorated over the last several years.  Since 2007, unemployment has skyrocketed, foreclosures have set new all-time records, personal bankruptcies have soared and U.S. government debt has gotten completely and totally out of control.  Poll after poll has shown that Americans are now far less optimistic about the future than they were in 2007.  It is almost as if the past few years have literally sucked the hope out of millions upon millions of Americans.

Sadly, our economic situation is continually getting worse.  Every month the United States loses more factories.  Every month the United States loses more jobs.  Every month the collective wealth of U.S. citizens continues to decline.  Every month the federal government goes into even more debt.  Every month state and local governments go into even more debt.

Unfortunately, things are going to get even worse in the years ahead.  Right now we look back on 2005, 2006 and 2007 as “good times”, but in a few years we will look back on 2010 and 2011 as “good times”.

We are in the midst of a long-term economic decline, and the very bad economic choices that we have been making as a nation for decades are now starting to really catch up with us.

So as horrible as you may think that things are now, just keep in mind that things are going to continue to deteriorate in the years ahead.

But for the moment, let us remember how far we have fallen over the past few years.  The following are 14 eye opening statistics which reveal just how dramatically the U.S. economy has collapsed since 2007….

#1 In November 2007, the official U.S. unemployment rate was just 4.7 percent.  Today, the official U.S. unemployment rate is 9.4 percent.

#2 In November 2007, 18.8% of unemployed Americans had been out of work for 27 weeks or longer.  Today that percentage is up to 41.9%.

#3 As 2007 began, there were just over 1 million Americans that had been unemployed for half a year or longer.  Today, there are over 6 million Americans that have been unemployed for half a year or longer.

#4 Nearly 10 million Americans now receive unemployment insurance, which is almost four times as many as were receiving it back in 2007.

#5 More than half of the U.S. labor force (55 percent) has “suffered a spell of unemployment, a cut in pay, a reduction in hours or have become involuntary part-time workers” since the “recession” began in December 2007.

#6 According to one analysis, the United States has lost a total of approximately 10.5 million jobs since 2007.

#7 As 2007 began, only 26 million Americans were on food stamps.  Today, an all-time record of 43.2 million Americans are enrolled in the food stamp program.

#8 In 2007, the U.S. government held a total of $725 billion in mortgage debt.  As of the middle of 2010, the U.S. government held a total of $5.148 trillion in mortgage debt.

#9 In the year prior to the “official” beginning of the most recent recession in 2007, the IRS filed just 684,000 tax liens against U.S. taxpayers.  During 2010, the IRS filed over a million tax liens against U.S. taxpayers.

#10 From the year 2000 through the year 2007, there were 27 bank failures in the United States.  From 2008 through 2010, there were 314 bank failures in the United States.

#11 According to the U.S. Department of Housing and Urban Development, the number of U.S. families with children living in homeless shelters increased from 131,000 to 170,000 between 2007 and 2009.

#12 In 2007, one poll found that 43 percent of Americans were living “paycheck to paycheck”.  Sadly, according to a survey released very close to the end of 2010, approximately 55 percent of all Americans are now living paycheck to paycheck.

#13 In 2007, the “official” federal budget deficit was just 161 billion dollars.  In 2010, the “official” federal budget deficit was approximately 1.3 trillion dollars.

#14 As 2007 began, the U.S. national debt was just under 8.7 trillion dollars.  Today, the U.S. national debt has just surpassed 14 trillion dollars and it continues to soar into the stratosphere.

So is there any hope that we can turn all of this around?

Unfortunately, the massive amount of debt that we have piled up as a society over the last several decades has made that impossible.

If you add up all forms of debt (government debt, business debt, individual debt), it comes to approximately 360 percent of GDP.  It is the biggest debt bubble in the history of the world.

If the federal government and our state governments stop borrowing and spending so much money, our economy would collapse.  But if they keep borrowing and spending so much money they will continually make the eventual economic collapse even worse.

We are in the terminal stages of the most horrific debt spiral the world has ever seen, and when the debt spiral gets stopped the house of cards is going to finally come down for good.

So enjoy these times while you still have them.  Yes, today is not nearly as prosperous as 2007 was, but today is most definitely a whole lot better than 2015 or 2020 is going to be.

Sadly, we could have avoided this financial disaster completely if only we had listened more carefully to those that founded this nation.  Once upon a time, Thomas Jefferson said the following….

I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing.

  • Nickelthrower


    These statistics, while terrifying, just reinforce the idea taking hold that me and my family are not going to pay for this mess. California, where I live, has half a trillion in public pension obligations. I do not feel like paying for every State retiree to have their million dollar + pension. All I have to do to avoid that is cross the border to another state – just a line on a piece of paper and I’m off the hook.

    Uncle Sam is pretty deep in it too. Consequently, I see that more and more of the businesses I work with moving into the Underground Economy. Most of the mom and pop shops are now strictly cash and I don’t see them handing out any receipts.

    From where I stand I can see that the people around me have already decided that they are not going to honor these absurd debts and are now looking out for themselves and their families.

    If business is so great then why have taxes from businesses fallen by more than 50%? I can tell you why – anyone that can is keeping their money instead of sending it to the government.

    I feel bad for the people that have the money taken out of their checks as that is money they should be using to prepare themselves and their families for what is about to go down.

  • Gary2

    Clearly the answer is that the countries prosperity needs to be more broadly shared. We now have the top 1% with as much wealth and income and the bottom 90%. This is not sustainable, Period. Whether you are left or right most folks think this is a bad thing for our country. CEO pay being 100 of times average workers. I do not think CEO’s all of a sudden got 100 of times more smarter than average workers. Our system is broke. Tax the rich and spread the wealth is the ONLY solution.

    As another poster on this site El Pollo de Oro says, the rich will be taxed one way or another-either my way by the government taxing the rich (rate used to be 91%) and spreading the wealth, or the desperate people doing desperate things tax. He explains this tax better than me but as the name implies it is not a good thing.

    We have a system now where billionaire hedge fund managers only pay 15% capital gains tax on their income where as workers pay much more. This is sickening.

    I say the government needs to tax the rich and spread the wealth as the rich will not do this on their own.

    Tax the greedy to help the needy! Tax the wealthy to keep us healthy-single payer courtesy of the tax on wall street and a huge tax on the rich. Free higher education by a transaction tax on Wall street. Spread the wealth. Double SSI to the seniors-Tax the rich-they already have enough money. (Rich is $500,000 per year and up, although anything over 150,000 needs to also be taxed to the max.)

  • gary is retarded

    tax da rich. take deys monies

  • Davey Jones

    At one time this nation had nearly 80% of the world’s middle class, within a few years it will have dropped below 40%. And as violence and natural disasters find their place in the international news each and every day. I can see a time when the years ahead will be looked back upon as ‘madness’.

    And most assuredly, if there are powerful factions and groups either seeking to benefit from these troubling times-actively manipulating them or both. One might find themselves weeping in remembrance of bygone days or being swept away in the debacle.

  • William

    There is one non-economic factor in all this decline. More and more people learn that the federal government has not told the truth about 911. The coverup of what actually happened on 911 has eroded confidence in the federal government. That lost of faith and confidence will ultimately mean that either we become a nation of people with no civil rights, or the union will dissolve. So, the consequences of 911 will extend far past 2001. If you doubt what I write, find a photo of the 16 foot wide hole in the wall of the Pentagon before the wall collapsed. It is physically IMPOSSIBLE for a large Boeing commercial airliner to have disappeared into that hole. We have been lied to by the federal government about the greatest crime ever against America. Now, do you think the federal government can solve today’s problems??

  • Gary2

    Here is proof on how we would be much better off as a country if we taxed the rich and took our stolen productivity increases back. Can you imagine how dynamic out economy would be if minimum wage was $19 per hour? Think of all the consumer purchases this would generate and the associated jobs. Or we can do it the republican way and give all the wealth to the rich. That has worked out so well. NOT!

    The minimum wage–which millions of people work for–is a poverty-level wage and a national scandal that covers up the depth of the economic crisis. It should be more than $19 an hour if we took in account the productivity rises over the last 30 years–that is, how hard people have worked compared to the rise in wages.

    Tax the thieving rich and take our money back! I am so happy that my side is really getting momentum with the tax the greedy to help the needy. You will be hearing more and more of this.

  • Patriot One

    I do believe your right. I also think the bottom is a moving target and the government will keep trying to kick the can down the road.

    If we do Public and Private Bankruptcy now we will be out of the woods in 24 months, worse case 7 years. If we don’t we could have decades of progressive deline.

  • In 2003 Donald Rumsfield was asked how much the Iraqi war will cost the U.S. He said under oath “20 billion the first year, 20 billion the second and 21 billion the third year, but Iraqi oil would pay for it.” We have spent a trillion dollars there already and all the oil profits go to big oil companies like BP and Chevron, not to the American taxpayers.

    Defense Secretary Gates proudly claimed last week he’s doing his part in lowering the DOD budget. What he’s going to do is fire 15,000 Marines and 40,000 Army from the ranks and cut back on Veteran’s Administration hospital care. That will add to the jobless rate and kick veterans out into the street that need medical care. But he leaves alone the wackey research and development programs that wastes billions and secretly fills the pockets of military industrial complex CEO’s with cash.

  • The problem we’re facing now as a society is that we are locked into the cycle of borrowing to keep the ship afloat. Each time it starts to sink, we have to borrow more to keep it going, even while it sails into deeper and deeper waters.

    The collapse is going to come like a thief in a night at first, but when it comes, you’ll know — no one will be taking dollars, those who haven’t prepared will be looking in desperation for even small handouts, and there will be political, social and economic chaos in this country which won’t be far short of WW3.

    Prepare now, be ready for the future and visit for how we can go about putting the best of our knowledge aside to rebuild in the future.

  • michelle

    I already bought nice Christmas gifts for my daughter for this year. I expect that things will be substantially different by then…I would try to guess what might be nice for her to have for subsequent years but I expect by that time things will have changed so much that nobody will be expecting presents and we’ll be happy to be able to have a decent dinner and the heat and electricity on…

  • alice

    Did you really believe we could borrow, print, and spend our way to prosperity? Many politicians still believe we can. That is why hope is fading. I don’t understand the whole psychology of borrow and or print your own money economy, but it just seems to be an artificial/voodoo economics to me anyway! Borrow to create pretend jobs, or print to create pretend jobs, seems to be the same to me. Our leaders know that what I’m saying is true, because, before they run for election they advocate my same beliefs. After they get elected, they are more concerned with their own personal re-election and reverse their positions (Sell Out), and continue the policy of “Too big to fail”,, borrow,,, print,,, spend!!!!!Are they just trying to buy time, hoping for a miracle? If the only 2 solution available are to borrow or print, then I choose print! Debt just seems like a sin to me, the Bible doesn’t say anything about printing!

  • Piglet

    In all defiance of reality, I keep reading that the US is “the richest nation in the world,” but a truly rich nation can pay its bills, not rely on borrowing from others with no real intention to repay. Also, any time there’s a government program at which someone wants to throw other people’s money, I hear, “We’re a rich country, we can afford to [enter boondoggle here].” No, we are not rich. Drive down the center of town and see the empty storefronts, and drive through the residential areas and see the foreclosed homes. See where the closed manufacturing plants stand. We are largely living off the wealth of others, and that’s going to end.

  • …but very few are taking this seriously:
    — Movie moguls are taking in phenomenal and record ticket profits each weekend
    — I pass restaurant alley along our belt-line highway and every Friday night the restaurant parking lots are all filled to capacity.
    — shopping mall parking lots are packed as though it was Christmas
    –Best Buy is now always busy 24/7, I am not seeing it like the few times I saw it in 2008/9 when it was quiet.
    My wife and I are amazed as to the total lack of frugality we are seeing around us. Where is the recession?

  • No Stocks 4me Cramer

    funny how its always 1 in 6 doesn’t have this, 1 in 7 doesn’t have this.

    Wow, yet when I look around its like 7 to 1 with cell phones, 7 to 1 with high speed ISP, 5 to 1 with new Ipads or iPhones, and I see no let up on the traffic or the lines at restaurants.

    Looks like things are going along fine out there with damned near every driver I see on the road has a damned cell phone glued to their ear and yappin away, even in the check out line at WallMart I watched some with a cell to the ear all the way through the line and the paying process, unreal, and this is wallmart, a low cost retailer.

    I never owned a cell phone, use dialup ISP, still have my 35 year old 19″ TV, and still can’t deal with the cost of dental care or these no inflation no need for a COLA ever increasing food prices.

    I just want that Little financial general Bernakapart to get off the low rates and get the damned banks to start paying better rates again to savers (that still have any savings) with all that free money they get.

  • Jason

    I completely agree with the author when he said:

    Right now we look back on 2005, 2006 and 2007 as “good times”, but in a few years we will look back on 2010 and 2011 as “good times”.

    That is how I am living right now and trying to enjoy these last few years of the good times before la merde hits the fan resulting in financial armageddon.I have this thought for the past few years. You see right now we
    are living in rip-roaring luxury. When hyperinlation hits the whole economy will go belly up resulting in anarchy, starvation, loss of electricity, gasoline, water, police.
    Pretty much the worst parts of the Bible.

  • Matt

    What is the point of comparing today to 2007? Isn’t that like comparing apples to oranges?

  • bproman

    I’ve got a funny feeling that things aren’t going to get much better in the not to distant future !

  • Michael2

    I am not sure how much credit or validity can be given to the (we) stated in, “the very bad economic choices that we have been making as a nation” part of the article. As far as I can tell the decisions that have been made regarding the economy have been made essentially by a handful of people for their benefit only. This Congress, the previous Congress and the previous President all had bad approval ratings indicating to me that average American’s know we have precious little input in the choices being made that affect us. The U.S. Government is largely out of touch with the public. And if President Obama continues on the trajectory he is on his approval ratings will bottom out in the same fashion.

    A few other things I have noticed about almost all of the choices being made is that they are often made in moments of crisis or sometimes in odd hours of the night, when they think no one is looking. Also hardly any of the legislation passed gets a full reading by voting members. The Bills seem designed and written so that it takes an army cryptographers and lawyers to decipher. Just like the Tax Codes. There is not much going on right now in American Democracy or Washington D.C. that is user friendly in my opinion. It seems the traditional equation used to define the balance of power in American Democracy is grossly out of balance. America’s Democracy has been usurped by industrialists, corporations/Wall Street, banks and think tank special interest groups. Unfortunately, it seems average Americans are last on the list for about every thing now a days. It is my humble opinion that we have arrived at the point that Thomas Jefferson warned about in the following famous quote,
    “If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks),will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered”.

    I have seen this quote several times, yet it’s as if it does not exist. This is quite frankly where we are at though. These behemoth institutions have been deemed “To big fail” as if it does not matter if the rest of us fail. Government acts as if the corporations and banks are the only things that matter. It is so bad that future generations to come are financially liable for their gross financial activities.

    Herein lays the proper use of ‘we’ though in this scenario. As in it is we that will be doing all the sacrificing and suffering because of the banks and corporations financial crimes. There has been no we in the TARP bailouts or bonuses. There has been no we in the crony capitalism, nor is there any we in the rampant nepotism. There is no average Americans allowed in the “it’s who you know” crowd or in the private jets or exclusive international villas. The average American is all but locked out of the political/economic processes and choices. Our voices, fears and concerns it seems are almost moot and trivial to the ruling class. All that matters to them is that the rich keep getting richer and that the access of the privileged to have the power to control our lives and destinies be maintained.

  • Jack

    Pessimistic article but it does serve as a wake up call for those many millions of sound asleep Americans. There are two things you should today.

    1. Get away from the dollar. There are plenty of alternatives.
    2. Get away from the taxman. Like a junkie without a fix, he gets nastier year by year. Soon he’ll want every asset you own. So that means move out of the country.

    Or just have another beer, sit down, watch TV and wait and see how much daddy govt likes you when he’s dead broke.

  • Jerry G.

    This is part of the decline of our western society as we know it. It is not only the US that is in trouble.

    With the giving out of more jobs to foreign low cost labor countries we are hurting ourselves.

    It starts with both the consumer wanting to pay as little as possible for goods, and the manufactures looking for greater profits with lower overhead. Generosity and tolerance to pay out salaries and pay the price for goods has been on the decline.

    The consumer who goes into the store and refuses to pay the higher price for something made locally is only hurting themselves in the long run. They falsely think they are getting a deal when they buy cheap.

    Jerry G.

  • jimmy carter tried to get us off our oil addiction, he was immeadiately slandered and made to look the fool. ross perot said that great sucking sound you hear is jobs leaving the country, he was immeadiately made to look the that we are getting hit with the consequences that black president is made to look the fool. ship of fools or country of fools. you reap what you sowe. and you still don’t see whats happening?

  • Joe Buck

    If you’re so smart and unemployed why haven’t you created your own job! Be an entrepreneur and work for yourself. Get educated and quit whining about the rich. They earned theirs so get off your butt and earn your own way.

  • Lennie Pike

    What Michael 2 wrote is the truth and the bottom line. All lovers of the truth should love what he wrote.

    Many of the PEOPLE behind many of those corporations and banks are being greatly enriched through the industry of killing people in wars, which is part of THEIR plan to arrive in a position to have even more power and wealth, maybe even control over all of it. Just pointing out some of the end results of what happens with this hijacked system of THEIRS!!! – not ours.

  • mondobeyondo

    Tax the rich all you want. You’ll feel better.

    But in the end, it won’t make a bit of difference. Rich peoples’ money doesn’t fill up the bottomless pit of debt any more than your money will, or your neighbor’s money.

    We have long since passed critical mass. There is no avoiding our fate, so the best we can do is prepare for the worst, and hope for something better than the worst. There will not be any “good” or “best”.

    Yep, 2011 will be fondly remembered as the “good old days” a decade from now. The days when you didn’t have to cash out your life savings for a loaf of bread (assuming you even have life savings left by then).

    Hey, at least you’ll still have bread. The circuses though… well…

  • Mr Book Worm

    If we could restart the manufacturing and production of durable goods and restart the mining that has been shut down. in this nation we could possibly reverse the downward fall or mitagate it in a large way. the real issue here is that the ones who rule the world I E George Soros and his like are intent on making us all his property and makeing us all equal.

  • john fifi

    GREEDY GREEDY CORPORATIONS,LAUGHING at all the comments.WHY,because the problem really lies with all the manufacturing jobs now in CHINA,INDIA,MEXICO,etc…The ONLY way to save North America(yes,Canada too) is to cut off all imports from China ,India, etc.or at the very least dollar for dollar in trade.Heads of corporations who haved moved jobs offshore should be tried for treason..ITS SAD WHEN GREED COMES BEFORE YOUR COUNTRY.

  • Tim

    time to tax rhe rich or give up. The rich will not pay their fair Share.

    republicans will give tax breaks to billionaires.

    Time to fight for change

  • What would you do if the U.S. Government announced a collapse of the USD and would be worthless on a certain date?
    What you weren’t told.
    Q?: Why did the Stock market DOW went from 6,000 to 11,000?
    The Government bought stocks to prop up the economy a little longer.
    Q?: Why did Gold go from $900 an oz to $1400?
    The Government bought Gold for storage.
    Q?: Why did Silver go from $12 an oz to $30?
    The Government bought Silver for storage.
    Q?: What is the reason for this?
    The Government is preparing for a Default of U.S. Treasuries and a worthless dollar.
    Q?: Why?
    So the Government can wipe off all its debts and issue new Currency!
    Q?: Will this cause suffering?
    They will recalculate Social Security, convert Pansions and have determined a little pain is necessary to start the system over with a new facist Government. A New World Order or at least a new U.S. Order.
    Q?: Is that why printing and borrowing by the U.S. Treasury is accelerating.
    Yes! To control the date of the collapse, on “THEIR” timeline.
    Q?: This seems to all be preplanned?
    Yes! Part of World domination.
    Thanks You Sir!
    Your Welcome, Have a nice day…:)

  • mondobeyondo

    Undeniable proof that cell phones are more important than food:

    Almost everyone has a cell phone.

    Not everyone has food.

    Therefore, cell phones are far more important in this society, than food is.

  • Mr. Obama continues to “misread” the American people. Both the poor economy AND the economy-threatening policies he has forced through. And when everything else is failing, blame everything and everybody but not Obama!!! America doesn’t need to sink under another one of their grand economic experiments. Their LAST ONE WAS AN EPIC FAIL!

    We help Americans find jobs and prosperity in Asia. For details, visit

  • Tom

    The old system is bankrupt.A new one tied to gold will soon be established.This is a global problem.The New World Order is upon us.

  • Declare bankruptsy. Pay off debt at .25/$1 and tell the fat cats and ‘rich’ pensioners to go **** themselves. It’s a slam dunk.

  • And don’t forget to cut defense spending by 75%. Done and done.

  • bko

    Here’s HOW we can tax the rich: a .5% (less or more) tax on the monetary amount of every financial transaction (that includes the check you use to pay your bills) will generate mind-boggling amounts of deficit-reducing income. It will also reduce volatility.
    I’m all for Bernanke’s sales tax if it applies to stock, etc. purchases, as well.

  • I think a better management system to regulate everything is definitely needed in USA.
    If this situation continues I do not think USA will remain as the super power.

  • Bill

    I am simply amazed that some people think taxing the “rich” is going to do anything to help us out of this mess.

    BKO, we are already excessively taxed, adding more is an insane idea. Besides, with a new revenue stream coming they will just spend more, thereby nullifying the tax increase. Haven’t you learned by now that giving money and power to the sociopaths in government is like giving whiskey and car keys to teenage boys? Only bad things will happen. . .

  • mondobeyondo

    Don’t rob Peter to pay Paul.

    Rob Peter AND rob Paul. Rob Linda, Steve and Jennifer too. It won’t matter in the long run.

    Truth is, you’re already being robbed, by inflation (a hidden tax). The “rich” are stuck on the same boat as you and I. (Let’s hope it’s not the Titanic! I’d rather be on the Good Ship Lollipop, or even the “S.S. Minnow”, of Gilligan’s Island fame).

    The moderately rich (not the filthy stinking uber-rich) earned their money the hard way. They sacrificed, they worked hard and dedicated their time and energy to make their companies and corporations profitable. That’s how Henry Ford, J.C. Penney, Colonel Harland Sanders and many others did it. Even Sam Walton. Do you really think Wal-Mart would be the same corporation if old Sam were around today?

    The uber-rich are content to make deals with bankers on Wall Street. They sold their companies’ souls for a few bucks. If their companies’ founders ever came back to life, these current CEO’s would be burned at the stake.

    It’s the ultra-uber rich we should go after. The big banksters and Wall Street kings and queens. They are the ones who should be taxed, then imprisoned, for crimes against humanity.

    Somewhere in heaven (or hell), J.P. Morgan, Paul Warburg, John D. Rockefeller and the other Fed/Rothschild robber barons, must be popping a bottle of champagne as they watch what’s happening to our beloved country.

  • Troy 1975

    Gary 2 19.00 per hour min wage would do nothing. As a small business owner i would just like everyone else pass on the cost to you the consumer or go out of business, So then we can have 60% unemployment. Taxing the right way is good but stop all the spending. Implement a flat sales tax and then we can get rid of the Irs. Then everyone pays not just the middle class and the rich. By the way stop giving out all these hand outs. All government, state and city Employees should make Minimum wage. Why should i pay taxes so they can make twice as much as i do. And to top it off my taxes are higher then there’s because i am a small business owner! Were all toast!

  • Gary2

    “Tax the rich all you want. You’ll feel better”.
    CORRECT, much better to see these leeches go down! They need to return our wealth they stole!

    “But in the end, it won’t make a bit of difference. Rich peoples’ money doesn’t fill up the bottomless pit of debt”. WRONG!!! The absurdity of this statement is mind boggling.

  • King of the Zombees

    Say goodbye to lawyers and say goodbye to their $500/hr racket. If you want to see what the future of lawyers looks like..look at the status and earning rate of any lawyer in China or India. Lawyers are going to get bamboozeled very soon.

  • Ken

    @GARY2: Gary, those rich folks already pay more than 50% of the entire budget. What on earth makes you think you’re entitled to steal the rest of their assets?

  • John Knight

    This is a good article on our economic morasse, except for how much it understates the problem. Our economy reached its peak between 1968 to 1973, depending on how you measure it: government statistics, or stock market performance adjusted for REAL (not government) inflation (and deflation).

    Since that time, we as an economy have lost about one trillion dollars per year, until obamacare came along and doubled it last year to $2 trillion. At that time we had one of the world’s highest cumulative savings of around $40 trillion in current dollars, and now have a NEGATIVE personal savings rate and far more than $40 trillion in DEBT.

  • Man in the Elevator

    @Ken: The rich own the place. Relax, they NEVER pay for anything, WE GET TO DO ALL THAT thanks to the people who enforce the rules created by the wealthy. It’s all smoke and mirrors, a perfect, successfully employed mirage, it works! Unfortunately, everybody is asleep on the nosediving plane (USA) which now has no pilot onboard. There will be a crash.

  • JackieG

    From here on in the only thing about to change is the size of the lies.

  • david dean ekstrom

    follow the money, who owns the federal reserve?
    united we stand. divided we fall. we are so far from being united. who assinated lincoln ,kennedy know more, learn the truth, start a garden, become self sufficient. stop using federal reserve paper money.

  • Bob

    What’s even more terrifying is the fact that some of the numbers in this article were a little conservative. Take #4 for instance, nearly 10 million Americans receiving unemployment benefits may be close to the 15 to 18 million who are now actually receiving benefits, but even though the 6 to 8 million Americans (99ers) are no longer receiving benefits, it doesn’t exclude them from being counted. Anyway, the article was great and was a real eye opener, I’m sure, for those who have been asleep or just denying truth.

  • Carlos

    I feel sorry for the people who cross the border to come to work to the US. They pay a lot of money to come here illegally. I think very soon, it is going to be the other way around…we are going to be running for our lives.

  • Gary2

    Ken-look at all taxes and not just the income tax-we all pay about the same. Turn off Fox/Rush and think for your self. It amazes me how many people can’t understand this.

  • Donny

    Simple solution.1% of the USA population owns 40 trillion in assets.It is clear to me that taking from the 1% and paying this mess THEY created is a much better choice than taking from the other 99% of us.

  • Gary You’re Going the wrong way

    Gary what you are defining, is socialism. For centuries socialistic views have ruled the world and when our capitalistic government popped out of the mess we grew to be the most powerful country in the world. Now, other countries are finally following in our footsteps and we cheer them on, while we are hypocritically moving in the opposite direction. With more and more businesses being owned by the government. we are slowing becoming the communist nation that the soviets wanted so badly. when you speak of CEO’s being paid more than the rest of the workers, that is because, guess what, they worked much harder to get there. If being a CEO is easy… why don’t you become one? The “Republican” view promotes hard work, unlike your lazy solution. Sure lets tax the rich since we were not successful like them. well, Gary, how bout we tax you of ALL of your (hard earned i’m sure) money and hand it out the the masses. Do not be a hypocrite, what right do you have of taking another man’s wealth? The most we can do is equal it out. Do not be so quick to down on the “Republican” view. Free trade and capitalism must stay strong. Look at China.(capitalism)

Finca Bayano

Panama Relocation Tours



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