Have you see the National Debt lately? Over $16 trillion (16,000,000,000,000). By the way the problem is far worse for us tax payers because this $16 trillion does not include the State and Local government debt. Local governments have already started filing bankruptcy.
“We are rapidly approaching the tipping point. Our greatest threat to our future is our own fiscal irresponsibility. We are not exempt from the laws of prudent finance. If we don’t put our finances in order, then the opportunities for our children and grandchildren will be less and their standard of living we be less.” - David Walker United States Comptroller General 1998-2008
The Comptroller Generals is the Auditor General for the United States. Walker says we are two years from being at the point that Greece was when it collapsed. He says because the US dollar is still the favored reserve currency, we will last a bit longer but not indefinitely. He says that the national debt has been increasing at an increasing rate since William Jefferson Clinton was in the White House.
Seriously, if the chief auditor of the United States tells you that we are going fail and it is going to be big and felt around the world, and that there will be nowhere to hide, you should probably listen. Why is it that no one listens to auditors when the sound the alarm?
Another question is why voters don’t do their due diligence. Our government is a participatory form of government that each citizen has the right to decide the direction of the nation. Seems like people should be better informed and look at what the media is telling you with a critical eye. Just because you have the right for something does not mean that you should exercise your right irresponsibly.
Hope and Change? Seriously? We are in for a big change and we are about to get a lesson in failed expectations.