last month I wrote Jobs On the DebtStar, Be Quick! where each US job costs over $1M.
US Jobs added in 2 years 2,283,000 (Great!!)
US National Debt added in 2 years $3,066,000,000,000 (Whoa!!)
Borrowings per job $1,083,392 (See a problem?)
Average US wage is $47,000 so by borrowing $1,083,392, the US Govt has borrowed 23years wages per job.
US National Debt increase in 2 years 25%
US National Debt increase in 4 years 64%
US National Debt in January 2000 $5.774 Trillion
US National Debt in January 2008 $9.257 TrillionUS National Debt in January 2012 $15.201 Trillion (tripled in 12 years!!)
US National Debt in January 2015 $23.920 Trillion (estimate based on current growth!!)
12 years as a percentage of the USA's 235.5 year history is 5.1 % of the said nation's illustrious existence and in that short period the debt increased 163%. (Congratulations Dubya and Barack!).
Recovery my arse.
Here is a financial snapshot of the USA's last 5 years and the cost government's attempts to keep the US stock market from melting down.