Debt: America versus Greece

Paul Farrell points out the ugly truth about profligacy, American style:

1. Federal government debt … $14.3 trillion
2. Treasury and Fed cheap-money policies … $23.7 trillion
3. Social Security’s rising debt … $40 trillion
4. Medicare’s unfunded debt … $60 trillion
5. Annual health-care costs … $2.5 trillion
6. Secretive global derivatives trading … $604 trillion
7. Population growth of 50% vs. Peak Oil demands … $30 trillion
8. U.S. dollar losing as reserve currency … $20 trillion
9. Global real estate losses … $15 trillion
10. Foreign trade and ownership … $5 trillion
11. State and local budget and pension shortfalls … $3.5 trillion
12. Corporate pensions plus 401(k) plans … $3.2 trillion
13. Consumer card debt … $2.5 trillion
14. Lobbyists annual costs … $1.4 trillion

Killer list. Thank you Paul.

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Source:
Buffett defends Goldman, joins greed Conspiracy
Paul B. Farrell
MarketWatch, May 11, 2010
http://www.marketwatch.com/story/buffett-defends-goldman-joins-greed-conspiracy-2010-05-11

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