81-4-38 ... In a nutshell ... the United States of America is broke and deeply in debt.
The debt per citizen is $50,693 ! ... Every man, woman and CHILD !
The debt per taxpayer is $139,593 ! ... Please mail in your check today ! (Grin)
To see how fast the problem is getting worse, compare it to the one I posted on 2-9-11 ... just 17 months ago ! (see first comment box below)
To watch it increase in real-time, go to: www.usdebtclock.org/
The following is from Wikipedia en.wikipedia.org/wiki/United_States_public_debt :
The United States public debt is a frequently reported measure of the obligations of the United States federal government and is presented by the United States Treasury in two components and one total:
* Debt held by the public, representing U.S. Treasury securities held
by institutions or individuals outside the United States Government;
* Intragovernmental holdings, representing U.S. Treasury securities held in accounts which are administered by the United States Government, such as the OASI Trust fund administered by the Social Security Administration; and
* Total public debt outstanding, which is the sum of the above components.
As of January 31, 2011, the total Public Debt of the United States of America was $14.13 trillion and was 96.4% of calendar year 2010's annual gross domestic product (GDP) of $14.7 trillion. Using 2010 figures, the total debt (96.3% of GDP) ranked 12th highest against other nations.
The national debt should not be confused with the trade deficit, which is the difference between net imports and net exports. State and Local Government Series securities, issued by state and local governments, are not part of the United States government debt. The deficit is presented on a cash rather than an accruals basis, although the accrual deficit provides more information on the longer-term implications of the government's annual operations.
The annual government deficit or surplus refers to the cash difference between government receipts and spending ignoring intra-governmental transfers. The gross debt increases or decreases as a result of this unified budget deficit or surplus. However, there is certain spending (supplemental appropriations) that add to the gross debt but are excluded from the deficit. The total debt has increased over $500 billion each year since fiscal year (FY) 2003, with increases of $1 trillion in FY2008, $1.9 trillion in FY2009, and $1.7 trillion in FY2010.
Read much much much more at en.wikipedia.org/wiki/United_States_public_debt