The Super Debt Clock

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Click here for the best Debt Clock you will ever lay your eyes on.

The US Debt Clock provides the most comprehensive numerical picture of the national debt and what makes it the monster it is today: soaring spending on pensions, entitlements, interest and countless other “items.”

Click on most of the chart numbers, and explanations pop up at the top of the page.

Why should we care? Because government has to get the money from somewhere. Too often that means turning on the printing press, creating dollars from thin air.

The result: Your money is worth less by the year.

Click here for the government’s own CPI Inflation Calculator. It shows how our spending power has declined thanks to the gradual weakening of the dollar. Calculate what one dollar in 1980 is worth today. You’ll be in for a shock.

Moral of the story: Runaway government debt isn’t our children’s problem. It’s our problem. Not tomorrow— but right now.

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Voices From The 2017 International Students For Liberty Conference

In Search Of History

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The Reagan Tax Cuts Worked

Thanks to "bracket creep," the inflation of the 1970s pushed millions of taxpayers into higher tax brackets even though their inflation-adjusted incomes were not rising. To help offset this tax increase and also to improve incentives to work, save, and invest, President Reagan proposed sweeping tax rate reductions during the 1980s. What happened? Total tax revenues climbed by 99.4 percent during the 1980s, and the results are even more impressive when looking at what happened to personal income tax revenues. Once the economy received an unambiguous tax cut in January 1983, income tax revenues climbed dramatically, increasing by more than 54 percent by 1989 (28 percent after adjusting for inflation).

 

-- Daniel J. Mitchell,

Shadow Stats Snapshot


FreeMarket Central

ShadowStats alternate economic indicators are based on the methodology of noted economist John Williams, specialist in government economic reporting.

  • Unemployment:
    FreeMarket Central BLS: 4.07%
    FreeMarket Central Shadow Stats: 21.7%
  • Inflation:
    FreeMarket Central March Year-to-Year: 2.21% (CPI-U*)
    FreeMarket Central Shadow Stats: 9.9%

*[cpi-u is the Bureau of Labor Statistics inflation rate for all urban consumers]

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