A US reality check

1. This year, the US government will take up almost as much debt as the rest of the world taken together. (IMF)
2. US total debt to GDP stands at 360 per cent. (Pimco)
3. 33 out of the 50 US States have depleted unemployment funds. (National Employment Law Project)
4. There will be 3.8 million foreclosures in 2010; 38 per cent more than last year. (Reality Trac)
5. Commercial property prices have fallen 40 per cent since 2007. (Congressional Oversight Panel)
6..While the official unemployment rate stands at 9.7 per cent, the overall rate stands at 18.4 per cent. (Gallup)
7. 40 million Americans are on food stamps. (US Department of Agriculture)
8. 2010 is the first of the coming years when social security will have more outlays than receipts.  (US Congress)
9. Calculating price inflation with the former methodology would show negative economic growth for the US economy. (Shadow Statistics)
10. The effect of addtional debton gdp growth has become close to zero (see chart).