24 Statistics About The United States Economy That Are Almost Too Embarrassing To Admit

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Does anyone really want to hear that America is in decline?

For decades, most of us have been raised to believe that the United States is “number one” and that anyone who doubts that fact is a “gloom and doomer” that should just pack up and move to “Russia” or “Iraq” or some other country where things are not nearly as good.

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But does it do us or future generations any good to ignore the very serious signs of trouble that are erupting all around us?  The truth is that it is about time to wake up and admit how much trouble we are actually in.  The U.S. government is absolutely drowning in debt.

The entire society is absolutely drowning in debt.  We are being slaughtered in the arena of world trade, and every single month tens of billions of dollars (along with large numbers of factories and jobs) leave our shores for good.  Our infrastructure is failing, our kids are less educated and our incomes are going down.  We have serious, serious problems.  At one time, the U.S. economy was so dominant that it was not even worth talking about who was in second place.  That is no longer the case in 2010.  Our forefathers handed us the greatest economic machine in history and we have allowed it to fall apart right in front of our eyes.  A national economic crisis of historic proportions is getting worse with each passing month, and yet most of our leaders seem to be asleep at the switch.  

So is American in decline?  Well, read the statistics below and decide for yourself.  The reality is that when you start connecting the dots it gets really hard to deny what is going on.

Urgent action must be taken if things are going to be turned around.  It is time to get our heads out of the sand.  It is not guaranteed that the United States will always be the greatest economy in the world or that we will even continue to be prosperous. 

For many Americans, it will be incredibly difficult to admit that our nation has become a debt addict and an economic punching bag for the rest of the world. 

But if we are never willing to admit what the problems are, how are we ever going to come up with the solutions?

What you are about to read below is going to absolutely shock many of you.  But hopefully it will shock you enough to get you to take action.  We desperately need to change course as a nation.

10 years ago, the US was No. 1 in average wealth per adult. In 2010, the US ranked 7th

Source: Zerohedge

The US once had the highest proportion of young adults with post-secondary degrees in the world. Today, the US has fallen to 12th

Source: Macleans

In 2001, the US ranked 4th in the world in per capita broadband Internet use. Today it ranks 15th

Source: Macleans

The economy of India is projected to become larger than the US economy by 2050

Source: Newsweek

One prominent economist says that the Chinese economy will be 3 times as big as the US economy by 2040

Source: Marketwatch

According to a study by Thompson Reuters, China could become the global leader in patent filings by next year

Source: Economyincrisis

The US has lost approximately 42,400 factories since 2001. Approximately 75% of those factories employed at least 500 workers while they were in operation

Source: Prospect

The US has lost a staggering 32% of its manufacturing jobs since 2000

Source: Prospect

Manufacturing employment in the US computer industry is lower in 2010 than it was in 1975

Source: Businessweek

In 1959, manufacturing represented 28% of all US economic output. In 2008, it represented 11.5%

Source: Prospect

The TV manufacturing industry began in the US. How many TVs are manufactured here today? ZERO

Source: Businessweek

As the end of 2009, less than 12 million Americans worked in manufacturing. The last time less than 12 million Americans were employed in manufacturing was 1941

Source: Prospect

In 1980, the US imported approximately 37% of its oil. Now it imports nearly 60% of its oil

The US trade deficit is running about 40 or 50 billion dollars a month in 2010. That means by the end of the year approximately half a trillion dollars (or more) will have left the US for good

Between 2000-2009, America's trade deficit with China increased nearly 300%

Source: Census

Today, the US spends approximately $3.90 on Chinese goods for every $1 that China spends on US goods

If the US trade deficit with China continues to increase at its current rate, the US economy will lose over half a million jobs this year

American 15-year-olds do not rank in the top half of all advanced nations in maths or science literacy

Median household income in the US declined from $51,726 in 2008 to $50,221 in 2009. That's the second yearly decline in a row

The US has the 3rd worst poverty rate among the advanced nations tracked by the OECD

Since the Federal Reserve was created in 1913, the US dollar has lost over 95% of its purchasing power

US government spending as a percentage of GDP is now up to approximately 36%

Source: Economicsjunkie

The CBO projects US government public debt will hit 716% of GDP by 2080

Source: Newsweek

If you think that's bad, check out....

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