Think things are bad? Here are 50 things that prove things REALLY are that bad
29. It is being projected that the U.S. trade deficit for 2011 will be 558.2 billion dollars.
30. The retirement crisis in the United States just continues to get worse. According to the Employee Benefit Research Institute, 46 percent of all American workers have less than $10,000 saved for retirement, and 29 percent of all American workers have less than $1,000 saved for retirement.
31. Today, one out of every six elderly Americans lives below the federal poverty line.
32. According to a study that was just released, CEO pay at America's biggest companies rose by 36.5 percent in just one recent 12 month period.
33. Today, the "too big to fail" banks are larger than ever. The total assets of the six largest U.S. banks increased by 39 percent between September 30, 2006 and September 30, 2011.
34. The six heirs of Wal-Mart founder Sam Walton have a net worth that is roughly equal to the bottom 30 percent of all Americans combined.
35. According to an analysis of Census Bureau data done by the Pew Research Center, the median net worth for households led by someone 65 years of age or older is 47 times greater than the median net worth for households led by someone under the age of 35.
36. If you can believe it, 37 percent of all U.S. households that are led by someone under the age of 35 have a net worth of zero or less than zero.
37. A higher percentage of Americans is living in extreme poverty (6.7 percent) than has ever been measured before.
38. Child homelessness in the United States is now 33 percent higher than it was back in 2007.
39. Since 2007, the number of children living in poverty in the state of California has increased by 30 percent.
40. Sadly, child poverty is absolutely exploding all over America. According to the National Center for Children in Poverty, 36.4 percent of all children that live in Philadelphia are living in poverty, 40.1 percent of all children that live in Atlanta are living in poverty, 52.6 percent of all children that live in Cleveland are living in poverty and 53.6 percent of all children that live in Detroit are living in poverty.
41. Today, one out of every seven Americans is on food stamps and one out of every four American children is on food stamps.
42. In 1980, government transfer payments accounted for just 11.7 percent of all income. Today, government transfer payments account for more than 18 percent of all income.
43. A staggering 48.5 percent of all Americans live in a household that receives some form of government benefits. Back in 1983, that number was below 30 percent.
44. Right now, spending by the federal government accounts for about 24 percent of GDP. Back in 2001, it accounted for just 18 percent.
45. For fiscal year 2011, the U.S. federal government had a budget deficit of nearly 1.3 trillion dollars. That was the third year in a row that our budget deficit has topped one trillion dollars.
46. If Bill Gates gave every single penny of his fortune to the U.S. government; it would only cover the U.S. budget deficit for about 15 days.
47. Amazingly, the U.S. government has now accumulated a total debt of 15 trillion dollars. When Barack Obama first took office the national debt was just 10.6 trillion dollars.
48. If the federal government began right at this moment to repay the U.S. national debt at a rate of one dollar per second, it would take over 440,000 years to pay off the national debt.
49. The U.S. national debt has been increasing by an average of more than $4 billion dollars per day since the beginning of the Obama administration.
50. During the Obama administration, the U.S. government has accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office.
© 2011, Catholic Online. Distributed by NEWS CONSORTIUM.
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Pope Benedict XVI's Prayer Intentions for January 2013
General Intention: The Faith of Christians. That in this Year of Faith Christians may deepen their knowledge of the mystery of Christ and witness joyfully to the gift of faith in him.
Missionary Intention: Middle Eastern Christians. That the Christian communities of the Middle East, often discriminated against, may receive from the Holy Spirit the strength of fidelity and perseverance.
Keywords: Sky is falling, economy, factoids, pessimism
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