The Oregon Biz Report - Business News from Oregon

December 3, 2008

“Estimates for what the government is willing to spend on bailouts and stimulus efforts for this year reach as much as $7.7 trillion according to Bloomberg.com — a full half of the United States’ yearly economic output…That trillion-dollar figure is the tip of the iceberg when it comes to checks written by the federal government that it can’t cash. Former U.S. Comptroller General David Walker puts our nation’s total debt and unpaid promises, like Social Security, at roughly $52 trillion — an invisible mortgage of $450,000 on every American household. .”
Texas Governor Rick Perry