US Government Debt Exceeds “WORLD” GDP
Posted on April 15th, 2009 in General, SEO accounting standards, aig, bank of america, bear stearns, billion, citibank, gm, government debt, Internet Marketing, medicare, publicly traded companies, social security, trillion, value of money, wamu, world GDP, yearly deficits
Talk about trimming fat…….US Obligations larger than the combined GDP of every country on Earth!!
That’s a pleasant thought now isn’t it. This post has nothing directly to do with internet marketing, but everything to do with the Value of Money.
If the US yearly deficits were calculated using the same accounting standards that publicly traded companies are required to use, companies like Citbank, GM, AIG, Bank of America, WaMu, Bear Stearns…….you get the idea, the Government would have reported a deficit last year not of $455 Billion, but $5.1 TRILLION.
In fact, if you took all current outstanding obligations, including Medicare and Social Security, the Feds would be in the hole for $65 Trillion, that is more than the “World GDP”
STAGGERING………..
