Is America in recession or bankrupt?

America is in turmoil, we know that the mortgage crisis is still spiralling as banks have to make some sort of loss disclosure for their annual accounts. No matter how they manipulate the figures it just does not look good for the USA economy.

Government debts are at an all time high.

If you really want some up to date figures stop by http://www.brillig.com/debt_clock/

U.S. NATIONAL DEBT CLOCK
The Outstanding Public Debt as of 19 Feb 2008 at 12:26:47 AM GMT is: $9,298,301,025,160.49

Just in case all those numbers confuse you that over $9.29 trillion dollars, or $9.29 million, million dollars.

It is a ledged that the Bush administration has shelved a report commissioned by the Treasury that shows the U.S. currently faces a future of chronic federal budget deficits totalling at least $44 trillion in current U.S. dollars. Needless to say treasury secretary Paul O’Neill was fired in December may or may not be a coincidence. Irrespective if the $44 trillion is fact or fiction the $9.29 trillion is very real debt that

No wonder Bush is off hiding in Africa, even an idiot must eventually realise that ever trick in the book is still a trick, reality will prevail.

If you are looking for his latest trick check out www.EconomicIndicators.gov this website tracking U.S. economic indicators is being closed down due to lack of funds! Or could it be a way of closing down information more reporters could use to prove that America is not just in recession but is technically bankrupt!