February 14, 2009

Federal obligations exceed world GDP

Hey! Thanks for the "hopey changey" thing there! We have definitely "changed" the country forever. I don't say that in a good way. Click the post title to read the article. The US federal deficit exceeds the GDP (gross domestic product) of the entire world! Anyone feel a bit nervous about their future yet? Take a look at the citizens guide to the 2008 Financial Report of the United States Government. It's surely a depressing read so take your meds first!

We might hope to see the finances of the union as clear and intelligible as a merchant's books so that every member of Congress and every man of any mind in the union should be able to comprehend them, to investigate abuses and consequently to control them.

President Thomas Jefferson to Treasury Secretary Albert Gallatin - 1802

1 comment:

  1. Which is why we're going to default on the national debt.


Always glad to have some form of reaction/response to my posts. Caustic or otherwise.