Zero Hedge: “Right now we are living in a bubble of debt-fueled false prosperity that allows us to continue to consume far more wealth than we produce, but when that bubble bursts we are going to experience the most painful economic “adjustment” that America has ever gone through.”

75 Economic Numbers From 2012 That Are Almost Too Crazy To Believe

Here are a few highlights…

• Back in the 1970s, about one out of every 50 Americans was on food stamps. Today, about one out of every 6.5 Americans is on food stamps.

• For the first time ever, more than a million public school students in the United States are homeless. That number has risen by 57 percent since the 2006-2007 school year.

• The percentage of working age Americans with a job has been under 59 percent for 39 months in a row.

• Right now, approximately 48 percent of all Americans are either considered to be “low income” or are living in poverty. (Editorial note: Medicaid for these families under Obamacare)

• Back in 1950, more than 80 percent of all men in the United States had jobs. Today, less than 65 percentof all men in the United States have jobs.

• Right now, more than 100 million Americans are enrolled in at least one welfare program run by the federal government. And that does not even count Social Security or Medicare. Overall, there are almost 80 different “means-tested welfare programs” that the federal government is currently running.

• The value of the U.S. dollar has declined by more than 96 percent since the Federal Reserve was first created.

• U.S. taxpayers spend more than 20 times as much on the Obamas as British taxpayers spend on the royal family.

• During fiscal year 2012, 62 percent of the federal budget was spent on entitlements. (Ed note: How much is enough?)

• It is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.

• Thanks to our foolish politicians (including Obama), Medicare is facing unfunded liabilities of more than 38 trillion dollars over the next 75 years. That comes to approximately $328,404 for each and every household in the United States. (NOTE: This is Medicare, not Medicaid)

I, and many others, often refer to the city of Boulder as 24 square miles surrounded by reality. When it comes to the debt, deficit and entitlement spending, the entire United State is living in denial. It’s a 24/7 fantasy land when it comes to financial logic. What is it that Glenn Reynolds likes to say?

Things that can’t go on forever, won’t. Debt that can’t be repaid, won’t be. Promises that can’t be kept, won’t be.