http://www.financialcookiejar.com/new-cit-group-inc-ceo/ Let's walk down the road of financial freedom together. Fri, 02 Dec 2011 21:07:13 +0000 hourly 1 http://wordpress.org/?v=3.0.1 http://www.financialcookiejar.com/new-cit-group-inc-ceo/comment-page-1/#comment-736 Phylicia Saugis Wed, 22 Jun 2011 22:59:42 +0000 http://www.financialcookiejar.com/?p=424#comment-736 I am tired and sick of hearing about the "economic recovery". The Federal government borrowed and spent $6.1 trillion over the past 4 years to generate a cumulative $700B increase in the country's Gross domestic product. That means we've borrowed and spent $8.70 for every $1 of nominal "growth" in GDP. In constant $, Gross domestic product is flat, we have no "growth" at all for the $6.1T. In constant dollars, the gross domestic product in 2011 might go back to the 2007 level, if the economy continues "growing" at the same rate reached in the first 90 days of 2011. If not, then the Gross Domestic Product will actually be lower than before recession levels. There is no economic recovery, the numbers prove it. I am tired and sick of hearing about the “economic recovery”. The Federal government borrowed and spent $6.1 trillion over the past 4 years to generate a cumulative $700B increase in the country’s Gross domestic product. That means we’ve borrowed and spent $8.70 for every $1 of nominal “growth” in GDP. In constant $, Gross domestic product is flat, we have no “growth” at all for the $6.1T. In constant dollars, the gross domestic product in 2011 might go back to the 2007 level, if the economy continues “growing” at the same rate reached in the first 90 days of 2011. If not, then the Gross Domestic Product will actually be lower than before recession levels. There is no economic recovery, the numbers prove it.

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