How much poorer are we going to get before we start getting richer again? Here are some (scary, morbid, gruesome) clues.Expected shortfall of gross domestic product below normal growth path in 2009: $900 billion
Decline in the Dow Jones Industrial Average from its decade high to its value at the close of business, Jan. 7, 2009: 5,394.83, or 38.1 percent
Number of manufacturing jobs lost since 2000: 3.78 million
Increase in number of unemployed workers from 2001 to 2008: 4 million, a jump of 2.7 percent in the unemployment rate
Real median household income according to the 2000 census, adjusted for inflation: $51,804
Real median household income as of August 2007: $50,233
Of course, the government didn't sit idly by while our financial future was disappearing down the drain. Instead, the feds have pumped in hundreds of billions of taxpayer dollars, hoping to juice lending and public spending.
Cost of finance industry bailout: $350 billion, with another $350 pending congressional approval
Cost of auto industry bailout: $17.4 billion, so far
And even though there's widespread agreement among economists that the government needs to be spending a large sum of money on an economic stimulus package, it still won't look pretty on the public balance sheet.
National debt: $10.6 trillion
Amount of that debt owned by China: At least $800 billion
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Windmills Tilted, Scared Cows Butchered, Lies Skewered on the Lance of Reality ... or something to that effect.
Windmills Tilted, Scared Cows Butchered, Lies Skewered on the Lance of Reality ... or something to that effect.
Thursday, January 8, 2009
America after the shrub: By the numbers
Salon.com has got a very good, heavily linked and referenced roundup of the damage done to the US economy and body politic during the shrub's and the cabal's junta:
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