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Face the Facts USA is delivering 100 provocative facts about big issues over the next 100 days leading up to the November elections to help Americans debunk myths, hold better conversations, get involved, and make choices as smarter citizens. Here is Fact #1 with supporting substantiation.
The following, by www.FaceTheFactsUSA.org, is brought to you courtesy of Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!) and www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds). This paragraph must be included in any article re-posting to avoid copyright infringement.
Fact 1: Released: July 30, 2012 – Debt & Deficits
How fast is the federal deficit rising? (See video here (1:14 minutes). In every second of 2011, the government spent $114,253 while taking in only $73,043 in revenue. That means in each second, the federal government spent $41,210 (A luxury SUV’s worth of red ink – every second!) that it didn’t have. Divided among every man, woman and child in the US, the 2011 deficit amounted to $4,158.
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*http://www.facethefactsusa.org/facts/a-luxury-suvs-worth-of-red-ink–every-second/ (Face the Facts USA is a nonpartisan information resource from the Center for Innovative Media at The George Washington University.)