Daily Archives: September 30, 2009

Ross Perot was Right! The Economic Truth

In 1992 Ross Perot burst on to the national political scene with his charts and Texas swagger. Although, he eventually lost his presidential bid, he shined a bright light on the ecomomic truths of our country and accurately predicted the path our economy over the last 17 years.

Recently, Perot put up a new web site called PerotCharts.com where he has expanded on the classic charts from his presidential campaign infomercials. Watch the video that launches his web site below:

Here are some of the new charts on his web site that clearly illustrate the self destructive path that we have placed our country on.

The Growing National Debt Combined 1968 - 2007

This is the cumulative amount of money that the government has borrowed from outside sources to meet its obligations during the years that it runs deficits. Debt Held by the Public includes domestic buyers, such as mutual funds, state and local governments, Federal Reserve banks, commercial banks, insurance companies, and individuals, as well as private foreign entities and central banks of foreign countries. Of the $5.1 trillion in outstanding public debt at the end of 2007, domestic investors owned 55 percent ($2.8 trillion) and foreign investors held 45 percent ($2.2 trillion). When the government runs surpluses, the debt gets paid down as can be seen from the trough in the late 1990s.

The Nation’s Healthcare Dollar 2004

Sixty percent of the private insurance healthcare dollar goes toward physician and hospital services, and fourteen percent goes toward both prescription drugs and administrative costs.

The term tipping point can be applied to a process in which, beyond a certain point, the rate at which the process continues will increase dramatically. The budget of the United States has reached its tipping point. A recent event could have, in fact, marked the point in time. The first Baby Boomer—born January 1, 1946—has applied for early retirement at age 62 and received her first Social Security check. On the chart, an upturn in the Medicare growth rate can be detected in 2011 when the first Baby Boomers turn 65. Thereafter, the number of retirees continues to increase while the number of workers per retiree continues to decrease. The pyramid scheme has collapsed.

On July 31, 2008, the total federal debt stood at $9.586 trillion. Of that amount, $4.182 trillion was owed to the various “trust funds” (e.g., Social Security, Medicare, federal employees retirement funds, etc.) because the government “borrowed” that money from them. That leaves $5.404 trillion of debt “held by the public.” Of that amount, $2.728 trillion is held domestically by banks, mutual funds, and other U.S. investors. This leaves $2.676 held by foreign countries, institutions and individuals.

Notes:

1 Oil Exporters includes: Ecuador, Venezuela, Venezuela, Indonesia, Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, the UAE, Algeria, Gabon, Libya and Nigeria.

2 Caribbean Banking Centers includes: Bahamas, Bermuda, the Cayman Islands, Netherland Antilles, Panama, and British Virgin Islands.

For more common sense and a truthful view of the economic situation, visit: http://perotcharts.com/home/

Where are the leaders with the saavy to lead us out of this mess? How do we find our way before it’s too late?

Wake up America, the American Dream and the future of our children is at stake!

“Sometimes I wonder whether the world is being run by smart people who are putting us on, or by imbeciles who really mean it”. – Mark Twain

Restore the Republic, Reject the Agenda of ALL Unscrupulous Politicians! We need Leaders Now!