This depicts the U.S. entitlement economy--a debt train that has collided with federal obligations
Nominal GDP is only $100 billion higher than it was back in the third quarter of 2008. That means it has been growing at only $4 billion per month, while new federal debt has been accumulating at around $100 billion per month.
This is why we are in the state that we are in not only as a country but as a city. This escalating out of control spending causing an astronomical debt as well as federal dollars going out the door to foreign economies, have hurt all American citizens. The government has little money to give back to the very people who pay for all its waste. It is not two local commissioners, that some would have you believe, that have put us where we are today--a poor city trying to survive. From Unions that won't see the light--to a city raising fees again--to everyone else trying to pick our bones.
Read more about it HERE
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