History in the Making: Deficit Tops $1 Trillion

By Bill Glynn

Expected $2 trillion by year end...

A direct quote from me: “If the U.S. was a company our Board of Directors, management and employees would be fired, the business bankrupt and a lot of people would go to jail” is as true today as six months ago. The U.S. has many milestones that have impacted our nation and the world very positively. Now we are seeing the negative side of our leaders' actions and management. Try to comprehend what a $2 trillion deficit will do to the national debt. Yes, $2 trillion more! This doesn’t include the minting of currency and other debt we are taking on but simply our national profit and loss. Imagine if the U.S. WAS a company! Well, the best way to gain perspective and a proxy for where we are fiscally is to see the U.S. as a business. We are a capitalist nation, after all. [more...]