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To begin, the article below is about events presently happening in Baltimore, but the author makes the point to end all points that I sincerely hope all my readers take to heart:I think it’s safe to say that when we are both $18 trillion in debt (making us the largest debtor in the world), and have over $200 trillion in unfunded liabilities, that becoming a bankrupt nation with a worthless currency is very bad. I don’t think you need to be a member of any party to come to that conclusion.
FACT:
We are $18 trillion in debt. Very soon the interest payments on the debt we owe will exceed our GDP, or what we earn as a nation.
TRANSLATION:
That is like making 35k per year, and the interest on your credit cards, or the minimums due on them is 40k. That would be more than than your entire take home pay and it would cause you a major problem. That means there is no money for a car, a home, food, or even the Obamacare you love paying for so much.
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