Comments on: Report card day for the US consumer http://www.ritholtz.com/blog/2009/06/report-card-day-for-the-us-consumer/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Tue, 14 Feb 2012 21:38:31 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: Report card day for the US consumer The Big Picture | fix my credit http://www.ritholtz.com/blog/2009/06/report-card-day-for-the-us-consumer/comment-page-1/#comment-183869 Report card day for the US consumer The Big Picture | fix my credit Wed, 17 Jun 2009 01:50:17 +0000 http://www.ritholtz.com/blog/2009/06/report-card-day-for-the-us-consumer/#comment-183869 [...] Report card day for the US consumer The Big Picture Posted by root 41 minutes ago (http://www.ritholtz.com) Can credit markets thaw without toxic assets buyout leave a reply you must be logged in to post a comment get the big picture by email the big picture is proudly powered by wordpress middot entries rss and comments rss Discuss  |  Bury |  News | Report card day for the US consumer The Big Picture [...] [...] Report card day for the US consumer The Big Picture Posted by root 41 minutes ago (http://www.ritholtz.com) Can credit markets thaw without toxic assets buyout leave a reply you must be logged in to post a comment get the big picture by email the big picture is proudly powered by wordpress middot entries rss and comments rss Discuss  |  Bury |  News | Report card day for the US consumer The Big Picture [...]

]]> By: FromLori http://www.ritholtz.com/blog/2009/06/report-card-day-for-the-us-consumer/comment-page-1/#comment-181978 FromLori Thu, 11 Jun 2009 15:57:09 +0000 http://www.ritholtz.com/blog/2009/06/report-card-day-for-the-us-consumer/#comment-181978 Report Card would be Graded with an F just on the basis of what each household owes to pay off all the government spending then add to that the debt. http://business.theatlantic.com/2009/05/us_debt_668621_per_household.php No that's not a typo: that's the statistic according to USA Today. The folks over there have done some really great work this week with another interesting interactive chart attached to an article about the nation's debt. If they keep this up, I'll have to stop considering it a useless free newspaper I step over when leaving a hotel room. The numbers it reports are staggering. Again, I wish I could include the interactive chart it shows, but it breaks down the $668,621 by various components of federal government debt ($546,668) and personal debt ($121,953). Presumably that means this astronomical figure does not even include state and local government debt. I thought it might be fun to put this number into perspective. THEN NEXT UNFUNDED LIABILITIES http://www.ncpa.org/sub/dpd/index.php?Article_ID=18076 The 2009 Social Security and Medicare Trustees Reports show the combined unfunded liability of these two programs has reached nearly $107 trillion in today's dollars! That is about seven times the size of the U.S. economy and 10 times the size of the outstanding national debt, says Pamela Villarreal, a senior policy analyst with the National Center for Policy Analysis. The unfunded liability is the difference between the benefits that have been promised to current and future retirees and what will be collected in dedicated taxes and Medicare premiums. Last year alone, this debt rose by $5 trillion. If no other reform is enacted, this funding gap can only be closed in future years by substantial tax increases, large benefit cuts or both, says Villarreal. America and Americans are broke and even the Fed is Dead http://bluelori.blogspot.com/2009/06/fed-is-dead.html obama 08-depression 09 no longer just a bumper sticker! Report Card would be Graded with an F just on the basis of what each household owes to pay off all the government spending then add to that the debt.

http://business.theatlantic.com/2009/05/us_debt_668621_per_household.php

No that’s not a typo: that’s the statistic according to USA Today. The folks over there have done some really great work this week with another interesting interactive chart attached to an article about the nation’s debt. If they keep this up, I’ll have to stop considering it a useless free newspaper I step over when leaving a hotel room. The numbers it reports are staggering.

Again, I wish I could include the interactive chart it shows, but it breaks down the $668,621 by various components of federal government debt ($546,668) and personal debt ($121,953). Presumably that means this astronomical figure does not even include state and local government debt. I thought it might be fun to put this number into perspective.

THEN NEXT UNFUNDED LIABILITIES

http://www.ncpa.org/sub/dpd/index.php?Article_ID=18076

The 2009 Social Security and Medicare Trustees Reports show the combined unfunded liability of these two programs has reached nearly $107 trillion in today’s dollars! That is about seven times the size of the U.S. economy and 10 times the size of the outstanding national debt, says Pamela Villarreal, a senior policy analyst with the National Center for Policy Analysis.

The unfunded liability is the difference between the benefits that have been promised to current and future retirees and what will be collected in dedicated taxes and Medicare premiums. Last year alone, this debt rose by $5 trillion. If no other reform is enacted, this funding gap can only be closed in future years by substantial tax increases, large benefit cuts or both, says Villarreal.

America and Americans are broke and even the Fed is Dead

http://bluelori.blogspot.com/2009/06/fed-is-dead.html

obama 08-depression 09 no longer just a bumper sticker!

]]> By: franklin411 http://www.ritholtz.com/blog/2009/06/report-card-day-for-the-us-consumer/comment-page-1/#comment-181882 franklin411 Thu, 11 Jun 2009 13:58:45 +0000 http://www.ritholtz.com/blog/2009/06/report-card-day-for-the-us-consumer/#comment-181882 Has the debt anchor theory ever been empirically proven, or is it merely a "feeling?" I know that almost everyone believes in it. Well, everyone is usually wrong. Show me the numbers. Has the debt anchor theory ever been empirically proven, or is it merely a “feeling?” I know that almost everyone believes in it.

Well, everyone is usually wrong. Show me the numbers.

]]> By: zsc http://www.ritholtz.com/blog/2009/06/report-card-day-for-the-us-consumer/comment-page-1/#comment-181852 zsc Thu, 11 Jun 2009 11:41:32 +0000 http://www.ritholtz.com/blog/2009/06/report-card-day-for-the-us-consumer/#comment-181852 Let the U.S. take the example of Polish, stable economy, for the favor of the investors and all ok! Let the U.S. take the example of Polish, stable economy, for the favor of the investors and all ok!

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