The Economy's Problems

the following indicators suggest the economy may be heading in the wrong direction

DEBT

National debt ceiling soars to $9 trillion - the equivalent of $30,000 per man, woman and child in the U.S. When Bush took office, the debt ceiling was $5.95 trillion. Since then, it has increased 46 percent (read).

Trade deficit rose 20% in 2005 (read).

Personal bankruptcies soared 30 percent to a record high in 2005 (read).

U.S. savings rate hits lowest level since 1933. (read). Americans' Debt: Worse Than You Think? (read)

The U.S. is shouldering a greater debt burden today than it did during the Great Depression. (read).

The IMF reports that U.S. deficits threaten the world economy. (read)

The typical American household has $18,700 in personal debt, excluding mortgages. (read)

EMPLOYMENT

Real wages fall at fastest rate in 14 years. (read)

Jobs in industries that are growing pay 21% less than those in industries that are declining. (read)

The number of college graduates who were jobless for six months or more has quadrupled since 2001. (read)

Outsourcing causes 9 pct. of U.S. layoffs according to the gov't (read)

* The above list of indicators is not necessarily representative of all economic measures available for analysis. GDP, factory orders, housing starts and manufacturing output are among many economic indicators that deserve attention as well.

Additional info:

White House: Economics Statistics Briefing Room

U.S. Census Bureau Economic Briefing Room

Is the economy heading in the wrong direction