Is there an economic recovery underway in the United States? A recent report published by the Government Accountability Office (GAO) and some mathematical interpretation of that report provides a window into the effects current U.S. fiscal policy has had on our economy:
- The GAO says the federal government is $18 trillion in the hole.
- Each man, woman and child in the United States owns a $120,000 share of the $39 trillion in Social Security liabilities. That’s JUST Social Security.
- A standard investment into the Dow Jones Industrial Average (DJIA) in 2007 would be 27% higher today. Once you account for capital gains taxes and inflation, though, you’ve only made 2.5% annually.
- A DJIA investment made in 2000 would provide you with a 52% return. After taxes and inflation, however, you’ve only made 1.9% per year.
- The U.S. Department of Labor claims the unemployment rate is 5.6%. However, people who mow grass and sell jewelry on eBay get counted as employed individuals. People who simply stopped looking for work don’t get counted as unemployed, either.
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