Posted on 05/27/2010 7:35:37 AM PDT by brucek43
Here’s the list: #1) 39.68 million Americans on food stamps, projections say 43 million by 2011.
#2) RealtyTrac says: 367,056 foreclosures reported in March, up almost 19% from February.
#3) The Mortgage Bankers Association reports more than 10 percent of U.S. homeowners missed at least one mortgage payment between January-March, a record and above the 9.1% of a year ago.
#4) For the first time in modern history, banks own a greater share of residential housing than all individual Americans put together.
#5) Congress is planning to quadruple oil taxes.
#6) California needs “terrible cuts” to avoid complete financial disaster.
#7) Dozens of states are planning for their biggest budget cuts in decades.
#8) In March our trade deficit widened to its highest level since December 2008 creating a huge wealth drain.
#9) Our projected 2010 deficit is 1.6 trillion. Spending a dollar a second; going through $1 trillion would take 31,000 years.
#10) The budget deficit was 82.69 billion in April.
#11) One study says in just five years our national debt will reach 100% of GDP.
#12) The Gulf oil spill will damage coastal states industries for decades.
#13) Banks designated as “problems” by the FDIC are at a 17 year high.
#14) 8,000 FDIC backed banks holding $13 trillion are backed by nothing. The FDIC fund is depleted.
#15) It took government tax gimmicks to get the existing home sales market to jump.
#16) Fannie Mae and Freddie Mac need another bailout with our money.
#17) 43% of Americans have less than $10,000 to retire on meaning they’re one major expenditure from permanent poverty.
#18) Detroit, the quintessential big city, suffers 50% unemployment.
#19) Regardless of Dept. of Labor, Gallup reports, the real unemployment rate is 20%.
#20) A recent survey found 76% of Americans know we
(Excerpt) Read more at collinsreport.net ...
And NOT 1 of the 25 reasons cites the most obvious reason: the pResident we have is a Marxist, way above his paygrade and IQ imbecile.
That list is a hodgepoge of reasons and symptoms.
A real analysis of the reasons would lead to Government over-regulation and Socialist meddling in the economy in nearly all instances.
Detroit is not the quintessential big city.
Shall I keep going?
You only need one!.......BHO!
another 2 more reasons
1. we have to spend our way out of this slow down.
2. the only sector expanding in America is the service sector.
I prefer to think of what happens in three years after a conservative Pres. and Congress pass sweeping tax and welfare reform and start paying off the national debt.
The economy is going to explode, and in a good way. The only downsides I see is a continuing slide in real estate prices and a large untrained group in the workforce - former government employees.
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