5 Economic Statistics

On Behalf of | Aug 12, 2010 | Bankruptcy |

According to a report found on yahoo.com, the following are some disturbing economic statistics:

1.  The number of Americans who are receiving food stamps rose to a new all-time record of 40.8;

2.  The U.S. economy lost 131,000 more jobs during the month of July, and the United States has lost 10.5 million jobs since 2007;
3.  Americans who are out of work are finding it incredibly difficult to get back into the workforce;
4.  The U.S. government keeps trying to pump up the economy with debt, and in the process things are getting wildly out of control.   According to a U.S. Treasury Department report to Congress, the U.S. national debt will top $13.6 trillion this year and climb to an estimated $19.6 trillion by 2015;
5.  Social Security will pay out more in benefits in 2010 than it receives in payroll taxes.  This was not supposed to happen until at least 2015.  In the years ahead, these new “Social Security deficits” are projected to be absolutely catastrophic.