God’s Words of Strength to His People During Financial Turmoil
Treasury Forecasts 2012
The Treasury released a press release July 31, 2012 issuing the following the statements:
- Treasury forecasts total debt on September 30, 2012 of $16,132 billion and total debt on December 31, 2012 of $16,448 billion.
- Total debt incurred by the US in the second half of calendar 2012 is estimated to be $592 billion; total financial needs are expected to $603 billion.
- Total debt incurred in calendar Q4 is expected to be $316 billion, higher than both Q3 ($276 billion) and Q4 2011 ($310 billion).
- Total debt incurred by the US in all of calendar 2012 is estimated to be $1.165 trillion.
- Total debt incurred by the US in all of calendar 2011 was $1.051 trillion.
- This means, calendar 2012 will see a 10% increase in total debt, while total US GDP is expected to rise by almost 2% for the entire year.
Each calendar day in the second half will see the US Treasury issue on average $3.3 billion in debt every day, and $136MM every hour; on a work day basis, this amounts to $4.8 billion in new debt each work day, and $200 million every working hour.
What is the US Debt Ceiling?
The debt ceiling is the legal limit on the amount of money the US government can borrow to pay its bills, which includes the salaries of federal employees, federal programs such as Social Security and Medicare (a health insurance program for the elderly), and principal and interest payments to bondholders. The debt ceiling is $16,394 billion.
What are the best ways to protect my investments?
Precious metals has always been a safe haven for investing in uncertain economic times. Precious metals are assets that will never lose their value. They are not subject to systematic risks as fiat/paper money and hedge/protect your hard earned wealth against inflation and other threats of devaluation. Cornerstone Asset Metals was established to help guide investors safely in and out of the precious metals market.
Learn more about how buying silver today is a smart move for your investment portfolio.
» Contact Cornerstone Asset Metals today to learn more about buying silver as an investment.
Past performance is not an indication of future potential values.
» Read our article: The Best Way to invest in Silver
Past performance is not an indication of future potential values.
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