Richard wrote:

On 8/28/2012 5:38 AM, jim wrote:


Richard wrote:

This was a shock!

Now I understand why the budget hasn't been balanced yet.

Actually, it sounds like you don't have a clue.


You are right.
I didn't have the first clue that this was where we were.

That is pretty sad. It took decades of doing the same thing
to get here.



The US debt situation is far better than it was 4 years ago.
Had things continued the way they were going the total US debt
would be close to $80 trillion by now (close to 500% of GDP).
Instead the total US debt is only $53 trillion. That
will
still take decades to climb out of that hole but at
least the US has stopped digging.

http://tinyurl.com/3p24jpy
http://comstockfunds.com/files/NLPP00000/530.pdf