• http://www.businessinsider.com, James Pethokoukis
But USA Inc. is way, way in debt. Borrowing 40 cents for every dollar it spends. Cash flow negative. Net worth negative and deteriorating. Massive off-balance sheet liabilities. Recently had its credit rating downgraded. Company has hardly grown since 2006.
And the new CEO it hired in November 2008? Jury is still out on that guy, but it’s looking bad.
He’s certainly good at spending money though. Instead of trimming product lines, cutting overhead, and getting back to core competencies, he created a pricey, new health benefit, Obamacare, that is somehow supposed to save $143 billion over ten years. The key phrase here is “supposed to save.”