Staying Informed – One website that says a whole lot…

Information is power but the
application of information is what really makes it powerful. With the enormous
amount of information out there, here is one site that says a whole lot about
our current situation: U.S. Debt Clock (http://www.usdebtclock.org/)
The U.S.
Debt clock is provided to inform the public on our countries current financial situation.
It attempts to provide real time up-to-date calculations of the country’s
balance sheet. 

There are a few things we can learn from this website.

Our current gross domestic product is a little over $16
trillion and of that $2.9 trillion is federal
tax revenue and around $2.8 trillion state and local tax revenue, which means 36% of everything we produce goes to taxes!

We can also see that our budget deficit is $646 billion
(which will increase as debt and interest rates increase), our liabilities (Social
Security & Medicare) are at $128 trillion and the official unemployment
number is 10 million people (The real figure is actually 19 million). 

Here are just a few more of the
statistics it tracks:
  • U.S. National Debt
  • Debt Per Citizen
  • Debt Per Taxpayer
  • Debt Per Family
  • Savings Per Family
  • Total Personal Debt
  • Mortgage Debt
  • Consumer Debt
  • Credit Card Debt

You make better choices when armed with better
advice. My
recommendation is that you pay attention and have a plan. If you would like to speak with a retirement planning specialist to put
plan in place (or review your current plan), call us at (775) 853-9033.