The annual financial report showed that the United States government lost over $1 trillion last year, which is more money than the entire Australian economy produces.
That huge sum of money constitutes the size of the entire Australian economy; it amounts to a loss of more than $2.2 million per minute. Despite that, the report noted that during FY 2017, the US economy continued to grow and the unemployment rate declined. In his introductory letter, the Treasury Secretary said that “the country enjoyed a pick-up in [economic] growth in 2017. Unemployment is at its lowest level since February 2001, consumer and business confidence are at two-decade highs, and inflation is low and stable.”
Nothing about this debt-based economy we are forced to live under is “stable.”
According to RT, the government’s operation costs soared by 10%. “The Government’s “bottom line” net operating cost increased $105.0 billion (10.0 percent) during [fiscal year (FY)] 2017 to $1.2 trillion,” said the financial report.
US Federal Reserve rings alarm about America’s soaring debt https://t.co/X8bSTBnCMv
— RT (@RT_com) February 22, 2018
The report also showed the government’s net worth decreased by about 6 percent year-on-year to a negative $20.4 trillion, meaning it has far more liabilities than it has assets. According to the calculations on long-term liabilities from Social Security and Medicare, the two largest and most relied on pension and healthcare programs in the United States are insolvent by nearly $50 trillion.
The US Federal Reserve also said this month national debt could reach $30 trillion in just 10 years and that it should be a reason for concern. “I believe the Federal Reserve should be gradually and patiently raising the federal funds rate during 2018,” Dallas Federal Reserve Bank President Robert Kaplan said on Wednesday. “History suggests that if the Fed waits too long to remove accommodation at this stage in the economic cycle, excesses and imbalances begin to build, and the Fed ultimately has to play catch-up.”
The US has some major problems with the economy that no government can fix because they created the problems, to begin with. If you haven’t yet started to prepare for an economic crash, then now would be a good time.
Ahhhhh no worries, just keep printing money and distributing credit to those that have ZERO intentions to pay it back…..
“Move along, nothing to see here”
I hear the sound of a gigantic toilet flushing called our economy. ‘Bout time for the war to begin to put an end to this insurmountable debt.
Heartless
You got that right SKIPPY
WW3 ????
There are alot of people getting rich on worthless govt sponsored projects Get rid of the projects. I worked for a govt agency for a while and all the leadership did there was plan the next monthly retreat to a high cost ressort. they worried about things like is the pool heated what is the menu like etc. It was one big party time
The US govt. didn’t LOSE any money, because it doesn’t MAKE any money, except what it prints up to keep the banks from getting hungry. The US govt. doesn’t earn money, it is only a source for revenue deposits. It’s net functions will always be zero or negative something, because it is not a net producer of anything of value. The money that the Treasury Dept. prints is worthless paper that has three dollars in some foreign bank for every dollar in circulation in the US. If you believe inflation is bad now, wait until the rest of the worlds markets unload their petro-dollars in a rush to get out of them.
but then there is the $2.3 trillion that went missing, Rumsfeld announced on 9-10-2001. And the 6.5 trillions that were disclosed missing 8/2016. And the $21T missing as reported by Greg Hunter. And the billions of US paper money dollars missing in semi trucks in Iraq. And the trillions lost due to fraud waste and abuse throughout the years. They ‘earn’ by confiscation and counterfeiting, only to have much of it lost by theft!!
Myself I don’t believe it. You cannot lose that much, It’s impossible for me to lose a $1000 worth of pennies in my house you cannot lose a trillion dollars in the US. They know where it went, they are just not telling us.
I got news for you, the national debt MUST exceed $30t in 10 years in order to keep the GDP above 0%. YOU MUST OUTSPEND THE EIGHT YEARS OF OBAMA DEBT, THIS TIME IN LESS THAN 8 YEARS — TO REMAIN AT 0% GDP!!!!!! NO ONE SEEMS TO REALIZE THIS!!!!! Also, add another 5 million through immigration MUST occur to keep the GDP above zero, the white European decent aren’t replacing themselves which is deflationary, especially to the GDP. You have no one to blame, you elected these debt spending BOZOS of all American parties, equally guilty.
War only benefits the central bank crime operation. War itself is a crime.
We Americans started out with the Articles of Confederation, not The Constitution which came a few years later and was not all good as it allowed for a Central Bank and removed state’s sovereign rights. George Washington put us under a Central Bank with ties to King George and the Rothschilds criminal cartel.
Jefferson kicked out the bank. The USA enjoyed many years of freedom and prosperity. That’s what attracted so many. Jackson fought the bankers again. In 1913 the criminal Rothschild cartel finally secured their bank in the USA. Five years later they collapsed the economy. They did it again in 1929. Now, we’re being set up for the big one, a collapse so horrific we will accept whatever final solution they offer. One world currency, one world military, one world order; slavery.
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So true, B from CA
Makes you proud to be an American! You might as well relax and watch the show(you’re paying for it)! Unless someone has some ideas of how to stop it?
And these are the same clowns that are the so called “leaders of the fee world and western civilization”.
I am reminded of the following statement on “western civilization”:-
When asked what he thought of Western civilization: “I think it would be a good idea.” – Mohandas “Mahatma” Gandhi
“Civilization” somewhere implies “civilized behavior”.
What part of “civilized behavior” allows women and children to be blown to pieces on a daily basis all over our world, just because they happen to live on top of some sort of resource that the banksters want to monetize – turn into profit.
Yankee, GO HOME!!! Go home and befoul your own nest and leave the rest of us alone.
Only then can the world begin to comprehend “Civilization”.
Until then amerika’s war machine loses YOUR money for you daily.
Some hookers around the beltway really got PAID.