Interest Payments on U.S. Government Debt Are on Track to Bankrupt America
Monday June 13th, 2011 • Posted by David Theroux at 2:20pm PDT • 5 Comments
This video, “Brother, Can You Spare a Trillion? Government Gone Wild!”, has now had over 2.7 million views on YouTube. It summarizes the gigantic threat that U.S. government debt poses for America, with annual interest payments alone this year totaling more that all federal spending for the combined costs of the departments of Commerce, Energy, Treasury, Health and Human Services, Transportation, Veterans Affairs, Agriculture, Homeland Security, Housing and Urban Development, Justice, and Labor plus the Small Business Administration! Federal spending must be drastically reduced if this looming crisis is to be avoided.
HT: Peter A. Howley
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U.S is completely succumbing on huge debt crisis and all the economic experts are in real dilemma to invent techniques to recover. Very sensitive and well-constructed post. Thanks for sharing the pathetic news.
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[...] current conditions, runaway inflation is inevitable…More HERE Posted in US Government Waste « US Government to the World-”Got a 100 Trillion to [...]
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steve says:
Eliminate the Federal Reserve—problem solved.
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Jon says:
Yep, it’s sad but true. The US Government has been bankrupt actually, for quite some time now. It’s only truly non-apparent because of the countries credit rating. But much like any individual, using other credit cards to pay other credit cards, it sooner or later comes to an end. The US is doomed, subject to a long rooted depression and is headed toward 3rd world status.
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