Hi I'm Tom, I receieved a google alert about a federal reserve article on this site which led me to another site to post. You people are all geeks, I was a stoner and used to attend your chess clubs in high school 35 years ago and win every game. Alright, I have a question for you, this is completly different then my usual post. But you are unusual! Just kidding, I hope you know that! Thomas D. Dowling http://www.tomdavidd.com/blog/ tomdavidd@gmail.com
August 06, 2009
Here's a chart put together of our country's Gross National Product vs. our Total National Debt over the past 15 years.
There is one slight problem with this chart. The current National Debt numbers only include about $2 trillion of the total estimated $23.7 trillion dollar cost of the bailout.
So, in actuality we are looking at a National Debt of over $33 trillion sometime in the next year or two. This amount is almost three times more than the total Market Capitalization of the entire U.S. Stock Market which is about $12 trillion.
This estimated future debt is approximately 235% of our GNP, a catastrophic event which has never even come close to occurring in the entire history of our country!
Source of data:
http://research.stlouisfed.org/fred2/series/GNP
http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt.htm
http://www.gopusa.com/news/2009/july/0721_bailout_tab1.shtml
http://www.world-exchanges.org/reports/annual-report/2008-wfe-annual-report
Plus:
There is one more item that should be added. There are about 100 million taxpayers in this country. If you divide the estimated $33 trillion debt by the 100 million taxpayers, we will each owe about $330 thousand in addition to our other obligations.
http://ustreas.gov/press/releases/docs/count.pdf
OK! Crunch these numbers if you can, and tell me whats going on! I sent you the sources. This will soon be on my site, but you are all very wecome to share this and your results with anyone. I would love some replys back! I need to know if your results match mine.
