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Now That The Super Bowl Is Over, Here Are 17 Facts Which Prove America Is A Debt Pig That Is Deeply Addicted To Debt-Fueled Prosperity

Wasn’t the Super Bowl wonderful this year?  Congratulations to the Green Bay Packers!  It is amazing how much money people will spend to attend this game each year.  Just a few hours before kickoff, some tickets were selling for over $4000 a seat.  Not that it wasn’t a great show.  It turned out to be a really great game and it was held in perhaps the most extravagant sports facility ever constructed in the history of mankind.  Even the halftime show, featuring the Black Eyed Peas, was a spectacle of historic proportions.  This year the Super Bowl truly was quite a grand party.  In America, everything always has to be bigger and better.  We take pride in constantly outdoing ourselves.  Other nations of the world look at our great prosperity in envy.  But do we ever stop to ask ourselves where all of this great prosperity has come from and if we can continue to afford it all?

The sad truth is that we were once the wealthiest, most prosperous nation on the planet, but now we are deeply drowning in debt.  America has become a debt pig that is deeply addicted to debt-fueled prosperity.  We had more than any other nation on the planet by far, but that was never good enough for us.  We always had to have more.  So we borrowed and borrowed and borrowed.  Now, average household debt is far larger than average household income, state and local governments across the nation are on the verge of default and our national government has piled up the biggest mountain of debt in the history of the world.

Just read the statistics compiled below.  Is there anyone out there that can deny that America has become a fat, bloated debt pig that is completely and totally out of control?

So I hope that you enjoyed the spectacle of Super Bowl Sunday, because there won’t be too many more times like this.  The greatest debt-fueled party in the history of the world is rapidly coming to an end, and pretty soon it will be time to start turning out the lights.

The following are 17 statistics about debt in America that are almost too outrageous to believe….

#1 The U.S. national debt is now well over 14 trillion dollars and it is being projected that the U.S. government will have the biggest budget deficit ever recorded this fiscal year.

#2 It is estimated that the U.S. national debt will increase by $150,000 per U.S. household between 2009 and 2021.

#3 During Barack Obama’s first two years in office, the U.S. government added more to the U.S. national debt than the first 100 U.S. Congresses combined.

#4 Unfunded liabilities for entitlement programs such as Social Security and Medicare are estimated to be well over $100 trillion, and nobody in the U.S. government seems to have any idea how we are actually even going to come close to meeting all of those obligations.

#5 When you add up all forms of debt in the United States (government debt, business debt and consumer debt) it comes to approximately 360 percent of GDP.  This represents the biggest debt bubble in the history of the world by far.

#6 Today, state and local government debt has reached at an all-time high of 22 percent of U.S. GDP.

#7 Unfunded pension benefit liabilities at the state government level - the amount state governments owe in promised retirement benefits beyond what they have collected – exceed $3 trillion.

#8 Average household debt in the United States has now reached a level of 136% of average household income.  In China that figure is only 17%.

#9 Today, 46% of all Americans carry a credit card balance from month to month.

#10 Of U.S. households that have credit card debt, the average amount owed on credit cards is $15,788.

#11 Americans now owe more than $887 billion on student loans, which is even more than they owe on credit cards.

#12 A staggering 25 percent of all American adults now have a credit score below 599.

#13 According to a survey released very close to the end of 2010, 55 percent of all Americans are now living paycheck to paycheck.  The sad truth is that most of us are maxed out.

#14 1.5 million Americans filed for bankruptcy in 2010.  That represented the fourth yearly increase in bankruptcy filings in a row.

#15 One out of every 45 U.S. households was hit with a foreclosure filing in 2010.

#16 The number of American families that were actually booted out of their homes and into the streets set a new all-time record in 2010.

#17 Even as the suffering of the poor is going up the generosity of the wealthy is going down.  It turns out that America’s wealthiest individuals gave a lot less money to charity in 2010.

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  • john

    Our past prosperity was all an illusion because it was based on debt. Now, the chickens have come home to roost. Many Americans will not survive. They have become fat,lazy and dependent on government. The ones that do survive what is coming will be stronger and wiser. The big picture is that God is trying to tell us something.

  • Tao Jones

    The Super Bowl is the modern equivalent of bread and circuses.

    No doubt the Romans would have backed Green Bay as the Vandals stormed the gates.

    Why doesn’t Humanity ever learn?

  • The Sojourner

    The Super Bowl, the World Series, the Stanley Cup, etc., etc., are all headed for the dustbins of history.

    A year from now, there won’t be many people left that will be able to afford the trip to the stadium.

    The over-payed players are going to have to either take some extremely drastic salary cuts or the game is completely over for everyone involved.

  • William

    The Super Bowl is the “circus” part of the dole and the circus. The Super Bowl is a perfect example of the collapse of America. Many of the Super Bowl viewers do not understand the Federal Reserve Bank, the meaning of unfunded liabilities, how Wall St derivatives have destroyed the middle class, or
    why the 911 Commission report is a total whitewash. But, the turkey vultures are coming home to roost……many of those attending the Super Bowl will be hungry and homeless in 3-4 years, wondering WHY they spent so much money on a silly ball game……..

  • Gary

    I could care less about the debt or deficit. I NEVER hear ANYONE right or left that I interact with daily/weekly EVER say anything about the debt or deficit. I only hear it on the news/right wing nut media.(which is most media)

    Here is how I see it: I did not get a seat at the table during the good times and I sure as hell want nothing to do with austerity/shared sacrifice BS. I did not benefit from the good times so I do not want to pay for the bad times.

    I lost a good family supporting job due to this wall street republican great recession through no fault of my own and now am grossly underemployed. I still see big bonuses paid out to wall street and tax cuts for the rich.(which anyone with eyes can see does not work or we would never have had the republican great recession as they have had nothing but tax cuts this last decade)

    No one bailed me out. If I make bad decisions I have to deal with the results. Why is their socialism for the rich and corporations but brutal capitalism for the rest of us.

    When I see the rich getting taxed hard then I will know the right really cares about the deficit. They just gave the rich more tax cuts so obviously there is no deficit problem. Watch what they do not what they say.

  • Richard

    “Already long ago, from when we sold our vote to no man, the People have abdicated our duties; for the People who once upon a time handed out military command, high civil office, legions–everything, now restrains itself and anxiously hopes for just two things: bread and circuses.”

    - Roman poet Juvenal (circa 100 A.D.)

  • mondobeyondo

    Well, at least this country can still put on one heck of an entertainment event. Although what can you say when one of the lead entertainers (Christina Aguilera) can’t even remember the words of our own national anthem?!

    In the short run, the Super Bowl will give an immediate economic boost to north Texas. They’ll keep partying until at least Valentine’s Day. In the long run, it won’t even matter. Does anyone remember who won Super Bowl XVII? (Without Googling it?) Me neither. Does anyone even care, besides NFL sports buffs?

    So much of it is hype, hype, hype. 5 hours of pre-game crap (the storied history of the Packers, the storied history of the Steelers, Vince Lombardi is a football god, etc.) Lots of hype, not much substance though. I agree, Vince Lombardi was a great coach. But he doesn’t pay my bills. He can’t really, for obvious reasons.

    And how much did Jerry Jones and Co. spend on building his enormous entertainment palace? Nearly a BILLION dollars? He could have built a house for every homeless person in Dallas for that kind of money.

    Bread and circuses…without the bread.

  • mondobeyondo

    As Humphrey Bogart said in “Casablanca”…

    “Well, we’ll always have NASCAR”…

  • fsgsfgsfg

    Oh look, they showed a picture of a pig to coincide with their headline. How clever!

  • Alvin

    Gary you’re a moron its getting old. The top 2% of earners pay 35% of American income tax and 47% of the population pay NO taxes (I can guess which group you belong to). You want tax breaks? Go start your own business and contribute something instead of whining, thanks.

  • dodiligence

    This post is for Gary. I perceive that you are caught in the gull of bitterness, and it has clouded your judgment. Do you really believe there is a difference between right and left? democrat republican or liberal? If so, then you need to open your eyes and do some research on history. It does not matter what side is in power. They always are trudging forward with basically the same agenda. (to destroy our constitution and our sovereignty).It is all a big scam, to give people the illusion of choice. The politicians do not control the country, the bankers do. Both sides pass whatever laws they are told (bought) to. They have sold us out, and deceived people still look to them to fix things. It is not going to happen. I am not saying they are all corrupt. I imagine there are some decent people on both sides but THEY haven’t got the power to make to make necessary changes. This is a nation full of idolatry, as witnessed by the Superbowl. The Lords judgement is falling on this nation.

  • A Dodgy Bloke

    And this is News?

  • Elihu

    The world is TOAST! Just a matter of time…

  • http://www.pathtoasia.com rhea

    Maybe not the most absurd, but you could imagine that:
    Everyone must buy a Chevy Volt
    Everyone must install a GE wind turbine in their yard
    Everyone must buy a house, financed by Fannie or Freddie
    Everyone must drink soda sweetened by high-fructose corn syrup, and pay an additional “sin tax” on the soda as well
    You must replace the tires on your car every year, with American-made tires
    These are hardly imaginative, but I did amuse myself with the mandated soda + sin tax thought as so many government directives are contradictory.

    We help Americans find jobs and prosperity in Asia. For details, visit http://www.pathtoasia.com/job/

  • from europe

    hey!!!

    why you put Gary’s photo on top of this article???? ;-DD

  • Gary

    I know both parties suck and are basically the same, however, the dems are slightly less selfish and seem to at least pretend to care about the poor whereas the repubes only care about the rich-their most pressing issue-tax cuts for the wealthy. At least the dems would have not continued to cut their taxes.

  • mondobeyondo

    Just take a look at some of the Super Bowl ads, to see where this society is headed:

    - A Doritos ad where some guy sprinkles Doritos crumbs on a dead goldfish, a dead plant and Grandpa’s ashes – and they all come back to life. Nothing like corn chips to do the job Jesus once did.

    - Another ad (can’t remember the product it was advertising, nor do I care) where a man and woman are sitting across a table at a restaurant – the voice-over for the woman says, “I wonder what he thinks of me…does he like me?” The voice-over for the man? “I wanna sleep with you”, repeated several times.

    Many of the other ads were for upcoming TV shows and movies with whiz-bang special effects.

    We get our bread (Doritos, Budweiser, McDonalds, Pepsi) AND our circuses! (latest upcoming movies, scantily clad females, TV shows, the Black Eyed Peas) – not to mention the act under the big top, the Super Bowl itself.

    So there it is. What every young boy playing Pop Warner football aspires to. *sigh*. Thank goodness baseball is still rather tame. Or is it??

  • http://moneycrisisgameplan.com David

    Turn out the lights, the party’s over…

    It will be interesting to see how professional sports crash along with the economy.

    Hopefully the millionaire athletes are paying attention and using their money to silver bullion to protect their wealth.

    David
    The Elevation Group

  • http://isncoinsreviews.com David

    It’s interesting how each Super Bowl commercial tries to get us to spend more money.

    And sadly, our current economic system is driven by consumers spending lots of money, even when they don’t have it to spend.

    If they spent their money on gold and silver bullion, that would stimulate the economy and help them protect their money as the US Dollar loses value.

    David
    International Silver Network

  • http://weightloss24daychallenge.com David

    Not only do the SB commercial urge us to spend money we don’t have, but it entices people to buy beer, chips, pizza, etc.

    This causes Americans to struggle with weight management issues and poor health, which increases costs for health insurance and medical care.

    David
    AdvoCare 24 Day Challenge

  • Andyb

    Off topic: where did those bizarre avatars come from?

    • Admin

      They are a little thing I added to the site.

      Do you like them or should I go back to how it was before?

      Michael