11 Economic Headlines That Make You Wonder What In The World Is Actually Going On
These days there are times when you read the economic headlines and all you can do is shake your head. Is anyone in control out there? Who in the world could possibly be making so many bad decisions? The truth is that the U.S. economy is in a state of absolute chaos, but whenever anybody in power tries to do something about it they usually seem to make things worse. It is almost as if the vast majority of people in positions of power have lost the common sense that they were born with. Meanwhile, average Americans just keep getting angrier and angrier and are looking for someone to blame for this gigantic mess.
If only Vince Lombardi was alive today. He would definitely know what to say at a time like this....
Sometimes it is actually hard to believe what is happening to America. The United States was once the richest and most powerful economy on the planet and was seemingly invincible. But now things are spinning wildly out of control. Posted below are 11 headlines that make you wonder what in the world is going on out there....
#1) Two very serious dark-suited IRS agents recently visited a carwash in Sacramento, California in pursuit of 4 cents.
#2) Senate Banking Committee Chairman Christopher Dodd has introduced legislation that would give the Federal Reserve sweeping new powers over the United States economy.
#3) The Federal Reserve is pledging to keep interest rates at record lows in order to foster economic growth and ease high unemployment.
#4) China is seeking reassurance from the U.S. government that the U.S. dollar will not decline in value.
#5) The unemployment rate in the construction industry has jumped to 27.1% as another 64,000 construction workers lost their jobs in February.
#6) The Obama administration's "Pay Czar" has decided to limit 2010 compensation for top executives at GMAC because the automobile finance giant continues to lose large amounts of money.
#7) Internet fraud cases increased by a whopping 22% in 2009 as scammers continued to take advantage of the trusting nature of many Americans.
#8) $2.5 trillion in IOUs from the U.S. government, payable to the Social Security Administration, are apparently stored in filing cabinets in downtown Parkersburg, West Virginia.
#9) According to USDebtClock.org, the unfunded liabilities of the U.S. government total over 107 trillion dollars.
#10) Are Democrats in the U.S. House of Representatives about to use a "legislative trick" to pass the reconciled health care reform bill without really voting on it?
#11) According to a new NBC News/Wall Street Journal poll, the approval rate of Congress is down to just 17 percent, and 50 percent of the respondents said that they would like to throw everybody out and start with a completely new Congress.