European Debt Woes Continue Due to Toxic Greek Debt

Investors are bracing for another tough week in international financial markets after a weekend fraught with new indicators that the European Debt Crisis is far from over.  It seems that not a week goes by without some new mini-crisis on … Continue reading →

Visualizing the Debt: U.S. Liabilities Surpass Empire State Building

Visualizing the amount of debt the U.S. is currently taking on is almost impossible for most people to grasp.  Taxpayers react with outrage at the thought of property tax increases measured in the thousands of dollars, but support a federal government whose annual activities cost trillions of dollars.  Because when politicians rant about the debt problem by discussing Obama’s project $1.7 TRILLION deficit, people’s eyes glaze over as the big numbers wash over them.  Trillion, billion, what does it matter, the numbers are too large to comprehend because the average person won’t even make $10 million in their lifetime, let alone a billion dollars.  And that’s why this image is so compelling, vividly showing people exactly the stakes involved in the ongoing debt fight.  Because as it stands, the unfunded liabilities taken on by the federal government through Social Security, Medicaid, and Medicare total $114.5 trillion, a mountain of 100 dollar bills that would dominate the New York sky line.

Now if that doesn’t convey the true gravity of the situation, I’m not sure what will.  Check out the entire dramatic visualization here.