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How Did America Go Bankrupt? Slowly, At First, Then All At Once!

Summary:
And if we look at the federal debt added per full time job added (chart below)...broken arrow...broken arrow!  That is .92 million dollars in new federal debt per net new full time employee since 2008.  Compare that to the thousand per net new full time employee from '70 to '80...or 0 thousand from '80 to '90...and nearly quadruples the 0 thousand per from '00 to '08.  Despite a far larger total population and after ten years of "recovery" since '08, this is likely as good as it gets.  We are likely at or very near the top of this economic cycle.  This pattern is likely to carry forward over the next decade and economic cycle...likely with disastrous results.

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And if we look at the federal debt added per full time job added (chart below)...broken arrow...broken arrow!  That is $1.92 million dollars in new federal debt per net new full time employee since 2008.  Compare that to the $30 thousand per net new full time employee from '70 to '80...or $140 thousand from '80 to '90...and nearly quadruples the $460 thousand per from '00 to '08.  Despite a far larger total population and after ten years of "recovery" since '08, this is likely as good as it gets.  We are likely at or very near the top of this economic cycle.  This pattern is likely to carry forward over the next decade and economic cycle...likely with disastrous results.

https://econimica.blogspot.com/2018/02/how-did-america-go-bankrupt-slowly-at.html

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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