Bankrupting America: The Latest Shocking Numbers

by Jerry Robinson | FTMDaily.com, Editor-in-Chief

HOUSTON, APRIL 19 – Here's a round up of the some of the latest shocking numbers detailing the continuing bankruptcy of our nation…

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$369.37 Billion: The amount of money the U.S. Federal government spent in the month of March and the largest amount of spending ever recorded in one month in U.S. history. To give you some perspective, that is equal to $1,190 for each American man, woman, and child. If laid end-to-end as dollar bills, $369 billion would stretch around the earth more than 1,430 times!

$198 Billion: The total Federal deficit in March. Total Federal revenues were only $171 billion.

42 months: The number of consecutive months that the U.S. Federal government has operated at a loss, or deficit.

$15.539 trillion: The total U.S. national debt as of March 30, 2012.

$16.394 Trillion: The current U.S. debt ceiling, or borrowing limit, imposed on the Federal government. Based on Federal spending projections, this limit will need to be lifted by December 2012. 

$5,027,761,476,484.56: The amount that the U.S. national debt has increased in the last 39 months under President Barack Obama. (It took Pres. George W. Bush eight years to rack up this much debt!)

$179,750: Cost per hour to operate Air Force One, including fuel and maintenance costs. (President Obama will be racking these costs up in re-election season.)

61%: The percentage of total issued Treasury debt purchased by the Federal Reserve during 2011, according to the most recently released Federal Reserve Flow of Funds report. Because the number of foreign and private sector Treasury purchases have been decreasing every quarter since the summer of 2010, the Fed has literally been subsidizing the Federal government’s consistent deficit spending.

Meanwhile, the corporate-controlled mainstream media keeps pushing the government’s doctored numbers while telling us that Washington’s policies are working. This is clearly unsustainable and explains why gold, the ultimate crisis insurance, and other hard assets deserve a place in your portfolio. 

The above article is an excerpt from our Spring 2012 FTMQuarterly Investment Newsletter. To read the entire newsletter, click here.

Jerry Robinson is a leading authority on the petrodollar system and global economic issues. He has spoken on the petrodollar system and global economics around the United States, in Europe, and in the Middle East. He is an Austrian economist, published author, columnist, international conference speaker, and the editor of the financial website, FTMDaily.com. In addition, Robinson hosts a weekly radio program entitled Follow the Money Weekly, an hour long radio show dedicated to deciphering the week's economic news. For media inquiries, click here. 

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