Tuesday, March 10, 2009

Fundamental Problems of US Economy

Another English article broke it down like this:

Fundamental Problems of US Economy
  • National Debt of $10,000 billion [10 trillion] (68% GDP)
  • Current Account Deficit $857 billion equivalent of 6.5% of GDP
  • Housing Market - House prices have fallen by 30% in some areas.
  • Rising [Income] Inequality
  • Devaluing Dollar - Loss of Confidence In America and America's economy.
  • Record Debt Levels - Past growth has been financed by consumer borrowing
  • Credit Crunch - Loss of confidence in banking system due to bad loans



As of this writing, the National Debt is $10,948,502,005,127.63. That's almost $11 Trillion Dollars.