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Do not give in to Evil, but proceed ever more boldly against it

Tuesday, October 6, 2009

118 Trillion Dollars In Liabilities

Read this footnoted four-page summary of the FedGov's current books, as prepared by Sprott Asset Management.

Remember that US GDP is running around $14 trillion/year, so that the $118 trillion total government liabilities number above means that Congress has promised in benefits, over time, more than eight times as much as the American economy produces each year.

Check their math and their references, then pass it on to others, as it is the clearest and most concise explanation of what we face as American citizens.

Then get back to figuring out how you and yours are going to make it through the coming Brave New World.

Tempus fugit.


Anonymous Anonymous said...

haha, even funnier is the fact that .gov SPENDING is now included in gdp!

October 8, 2009 at 12:16 AM  

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