DEBT:
As of February 28, 2011, the Total Public Debt Outstanding of the United States of America was $14.19 trillion and was 96.8% of calendar year 2010's annual gross domestic product (GDP) of $14.66 trillion. Using 2010 figures, the total debt (96.3% of GDP) ranked 12th highest against other nations.<snip>
http://en.wikipedia.org/wiki/United_States_public_debtDEFICIT:
WASHINGTON — A surge in oil prices helped push imports up at the fastest pace in 18 years in January, giving the country the largest trade deficit in six months.
The Commerce Department said Thursday the January deficit increased 15.1 percent to $46.3 billion. <snip>
http://www.msnbc.msn.com/id/42005784/ns/business-eye_on_the_economy/UNEMPLOYMENT:
The number of unemployed persons (13.7 million) and the unemployment rate (8.9
percent) changed little in February. The labor force was about unchanged over
the month.<snip>
http://www.bls.gov/news.release/empsit.nr0.htmHOMELESSNESS:
In a recent approximation USA Today estimated 1.6 million people unduplicated persons used transitional housing or emergency shelters. Of these people, approximately 1/3 are members of households with children, a nine percent increase since 2007. Another approximation is from a study done by the National Law Center on Homelessness and Poverty which states that approximately 3.5 million people, 1.35 million of them children, are likely to experience homelessness in a given year (National Law Center on Homelessness and Poverty, 2007).<snip>
http://www.nationalhomeless.org/factsheets/How_Many.htmlINFRASTRUCTURE:
<snip>
“How bad is our nation’s infrastructure deficit? A recent report card from the American Society of Civil Engineers estimated that it will cost $2.2 trillion over a five-year period to raise the U.S. infrastructure grade from poor to acceptable. Measure this against the roughly $100 billion from the 2009 “stimulus” legislation that had in fact gone toward infrastructure construction projects as of last fall. Deficit-ridden cities find putting off preventive maintenance and replacing obsolete equipment as tempting ways to cut budgets. Henry Petroski, professor of civil engineering and history at Duke University, warns: “Potholes know no politics….Bridges will corrode and collapse. Pipes will crack and burst. The physical foundations of our civilization will crumble under the weight of our complaints about it and our neglect of it. It will happen so fast it will be impossible to keep up with its repair.”
“The dilemma posed by infrastructure spending was seen in microcosm last fall when New Jersey Gov. Chris Christie stopped work on a new commuter-train tunnel that would run under the Hudson River into Manhattan. A federally-assisted project that was supposed to cost $8.7 billion faced a revised cost of $11 billion to $14 billion. “I can’t put taxpayers on a never-ending hook,” Christie said. The fact that the nation can’t even afford to build a railroad tunnel under a river highlighted the failure of government to bring the nation’s infrastructure up to 21st century standards. This includes America’s out-of-sight network of water systems, some of them built by our great-grandparents and now threatening public health and safety.
“Meantime, many nations around the world look to the future by developing critical infrastructure. China plans to spend $295 billion in the next decade to build a high-speed rail network, totaling 10,000 miles, that will connect its major cities. A World Bank report last July praised the project, saying it could speed passenger traffic, free up overloaded freight routes and reduce dependence on autos. One route, between Shanghai and Beijing, could cut travel time from 10 hours to four at speeds up to 302 mph. And China will spend $10 billion to connect the inland cities of Chengdu and Xi’an with a 320-mile railroad that will cut travel time to two hours from the current 13. Contrast this with the decision by the newly elected governors of Wisconsin and Ohio to forgo $1.2 billion in stimulus money for passenger-rail projects in their states. And a high-speed rail project in California that would connect Los Angeles and San Francisco has been derided by critics as “a train to nowhere” because the first leg would connect L.A. with the inland city of Bakersfield.
“While the United States is in retreat from big public works projects, on the grounds of can’t-afford-it, other nations with equally bad debt problems have taken a different course. Britain’s prime minister, David Cameron, cut dozens of social and military programs when he took office last fall. But he also unveiled a National Infrastructure Plan, a blueprint for spending $316 billion of public and private money over five years in his country’s railways, power stations, roads, internet access and scientific research. “The government is keen to point out,” said The Economist (Oct. 30, 2010), “that unlike many of its predecessors it has avoided the temptation to slash capital spending during a downturn, a habit that helps explain the current ropy state of the national infrastructure.”<snip>
http://kgab.com/infrastructure-decay-in-the-united-states-cost-2-2-trillion/COST of LIVING:
U.S. cost of living hits record, passes pre-crisis high
By John Melloy, CNBC
One would think that after the worst financial crisis since the Great Depression, Americans could at least catch a break for a while with deflationary forces keeping the cost of living relatively low. That's not the case.
A special index created by the Labor Department to measure the actual cost of living for Americans hit a record high in February, according to data released Thursday, surpassing the old high in July 2008. The Chained consumer price index, released along with the more widely-watched CPI, increased 0.5% to 127.4, from 126.8 in January. In July 2008, just as the housing crisis was tightening its grip, the Chained consumer price index hit its previous record of 126.9.
"The Federal Reserve continues to focus on the rate of change in inflation," said Peter Bookvar, equity strategist at Miller Tabak. "Sure, it's moving at a slower pace, but the absolute cost of living is now back at a record high in a country that has seven million less jobs."
The regular CPI, which has already been at a record for a while, increased 0.5%, the fastest pace in 1-1/2 years. However, the Fed's preferred measure, CPI excluding food and energy, increased by just 0.2%. <snip>
U.S. CITIZENS WHO HAVE NO HEALTH CARE INSURANCE:
Number of uninsured Americans rises to 50.7 million
By Richard Wolf, USA TODAY
A record rise in the number of people without health insurance across the nation is fueling renewed debate over a health care law that could to work better at boosting coverage than controlling costs.
More than 50 million people were uninsured last year, almost one in six U.S. residents, the Census Bureau reported Thursday. The percentage with private insurance was the lowest since the government began keeping data in 1987.
The reasons for the rise to 50.7 million, or 16.7%, from 46.3 million uninsured, or 15.4%, were many: workers losing their jobs in the recession, companies dropping employee health insurance benefits, families going without coverage to cut costs. Driving much of the increase, however, was the rising cost of medical care; a Kaiser Family Foundation report shows workers now pay 47% more than they did in 2005 for family health coverage, while employers pay 20% more.
SENIORS: Despite recession, they see income gains
Although the health care law signed by President Obama in March is designed to insure an additional 32 million people in public and private programs, it doesn't fully kick in until 2014. For the next few years, experts say, the problem could get worse. The average cost to insure a family of four is already about $14,000.<snip>
http://www.usatoday.com/news/nation/2010-09-17-uninsured17_ST_N.htmTEACHER SALARIES IN THE UNITED STATES:
Every few years the American Federation of Teachers releases a Teacher Salary Trends report about teacher salaries across the United States. This information helps teachers decide where to teach and how much they should earn. The latest report indicated that the average teacher salary was $47,602. The Federation indicated that unfortunately, teachers are struggling to find housing in their areas that they can afford on their salaries. As more teachers pursue additional education after receiving their bachelor’s degree, their student loan debt increases dramatically. New teachers may not start at an average teacher salary and could therefore struggle even more than veteran teachers, who may have higher salaries.<snip>
http://www.employmentspot.com/employment-articles/teacher-salaries-by-state/CONDITION of U.S. PUBLIC SCHOOLS:
Schools
Spending on the nation’s schools grew from $17 billion in 1998 to a peak of $29 billion in 2004. However, by 2007 spending fell to $20.28 billion. No comprehensive, authoritative nationwide data on the condition of America’s school buildings has been collected in a decade. The National Education Association’s best estimate to bring the nation’s schools into good repair is $322 billion.<snip>
http://www.infrastructurereportcard.org/fact-sheet/schoolsUNION BUSTING BECAUSE THE STATES ARE BROKE:
Governors who are less prone to macho posturing than Walker are pleading poverty – "we're broke!" they say. And indeed, they are.<snip>
http://www.guardian.co.uk/commentisfree/cifamerica/2011/feb/18/us-unions-wisconsin1UNITED STATE OF AMERICA LETS U.S. CITIZENS GO HUNGRY:
Record numbers go hungry in the US
Government report shows 50m people unable to put food on the table at some point last year.<snip>
<snip>
The number of children living in households where there were shortages of food at times rose by nearly one-third to 17 million. The report says that most parents who did not get enough to eat ensured their offspring received sufficient food but that more than 1 million children still suffered outright hunger.
The worst affected states are in the south with Mississippi having the largest proportion of its population enduring shortages of food followed by Texas and Arkansas. More than half of those affected are minorities, principally black people and Hispanics.<snip>
http://www.guardian.co.uk/world/2009/nov/17/millions-hungry-households-us-reportCOST OF IRAQ and AFGHANISTAN WARS:
Jan 14 (Reuters) - The cost to U.S. taxpayers of wars in Iraq and Afghanistan since 2001 has topped $1 trillion, and President Barack Obama is expected to request another $33 billion to fund more troops this year.
Over two-thirds of the money has been spent on the conflict in Iraq since 2003. This year is the first in which more funds are being spent in Afghanistan than Iraq, as the pace of U.S. military operations slows in Iraq and quickens in Afghanistan.
HOW MUCH HAS BEEN SPENT ALREADY?
Congress has approved $1.05 trillion dollars for the wars in Iraq and Afghanistan, according to the National Priorities Project, a nonpartisan budget research group that has a continuously running war cost counter on its website.
The tally topped $1 trillion last month, when U.S. lawmakers approved the fiscal 2010 defense spending bill that included $128 billion to be spent on the two conflicts through Sept. 30. The trillion-dollar total includes war-related costs incurred by the State Department, like embassy security.<snip>
http://www.reuters.com/article/2010/01/14/afghanistan-iraq-usa-costs-idUSN1415708320100114
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