Monday, December 6, 2010

It May Take a Depression


The United States of America is on the verge of national bankruptcy - in reality if not technically. The printing press can - for a while - disguise how insolvent we are becoming. But we are indeed headed in the direction of Portugal, Ireland, Greece, Spain and other governments, which are broke. We have maxed out our national credit card. A $14 trillion national debt - which requires a one trillion dollar annual interest payment - is a national disgrace. And you can thank both political parties for it. Yes, the Republicans are as equally responsible as the Democrats for thirty years of profligacy. [Go here to read John's ideas on how to solve the problem...]

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