Don’t Cry for me Argentina America … you have to watch this if you care about the fiscal disaster which America is rapidly becoming. Besides, the music alone is worth it. Argentina was once a thriving country and was driven into the economic ground by soaring debt resulting from its government’s (remember Peron? Evita?) pandering to those with their hands out for the “entitlements.” Can it happen here? After you view this you’ll be convinced … yes. Just today, the U.S. Dept. of the Treasury estimated the national debt to be $19Trillion in five years, up from the $13Trillion it hit in May of 2010. About a 50% increase in only five years. Here’s a nice summary:
According to the Debt Clock:
• Total national debt: $13 trillion
• Debt per citizen: $42,026
• Debt per taxpayer: $117,982
• Total interest due: $1.9 trillion
• Interest per citizen: $2,211
(Source: http://www.foxnews.com/us/2010/05/26/national-debt-clock-tracking-red/ (accessed 6/9/2010))
Click here to view the powerpoint show. (be patient, it can be slow to load)
Source: http://www.authorstream.com/Presentation/soundmanjay-344588-dont-cry-america-obamacare-socialism-argentina-ppspap-business-finance-ppt-powerpoint/ (accessed 6/9/2010).
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