This began during Emperor Bush's reign, while Cheney was sharing with us "deficits don't matter" and we were borrowing money from Communist China to fight terrorism in a country with little terrorism, Iraq.
Our rising debt is only part of this. Much is the faith, or changing faith, in the world that finances us.
http://www.usdebtclock.org/
(Cut and paste this to your computer)
This debt clock is just visual enough to transfix you with FEAR as you watch what has happened with our national debt and what could happen.
"There is a real risk that the United States may soon lose its vaunted AAA credit rating. That means the federal government will have to pay higher rates on the national debt, worsening the situation"-Alex Green
Bear in mind that government incompetence is NOT new, however, and that the United States is revered by the world first for its size and strength, and now with a President focusing on "bringing people together" rather than "the axis of evil" crap, I believe China and Japan will continue to sponsor our debt.
And to surprise long term subscribers that know I am dead against deficits, dead against being in the hole, I'll share this:
In the economic conditions we currently have, still horrific, the world knows that the U.S. must make it. This is key issue. The entire Global Economy still hinges on the success of the U.S.
Lastly, what most Americans do not understand is that the debt is not real, nor is money.
This is simple a created value, unlike Gold or Silver, that is backed by nothing.
Follow the USD. Gold is too neutral range to define another buy yet and the market must first "slow" to truly see our spending.
For the fiscal conservative that I am, and a true believer in Economics 101, I see the spending of money, and the waste to forums, sadly necessary. We were almost on the brink of financial ruin last fall.
