If this news doesn't floor you, you're not reading with your eyes open:
federal spending has placed the United States so far in debt that just
breaking even (funding all the programs the government has promised the
public) would require an "immediate and permanent" federal tax increase
of 60%! This comes from none other than the International Monetary Fund
(IMF) which is rightfully concerned about the U.S. debt and its ability
to cause chaos in world financial markets.
Put in perspective, the
global financial community is calling the U.S. "out of control" on its
fiscal policy. It's bankruptcy at a national scale for starters, and
possibly on a global scale if the international house of cards comes
tumbling down with the U.S. dollar (which has dropped sharply over the
last two years).
As I've stated before, spending at the national
level only reflects spending at the household level: American families,
too, are increasingly needing to restructure their debt and declare
bankruptcy. Credit card debt has gone through the roof, and although
Washington can't borrow from credit cards, they have certainly borrowed
plenty from Social Security.
The total gap? A $47 trillion
shortfall, says this article.
About the author: Mike Adams is a natural health author and award-winning journalist with a strong interest in personal health, the environment and the power of nature to help us all heal He has authored more than 1,800 articles and dozens of reports, guides and interviews on natural health topics, reaching millions of readers with information that is saving lives and improving personal health around the world. Adams is a trusted, independent journalist who receives no money or promotional fees whatsoever to write about other companies' products. In 2010, Adams co-founded NaturalNews.TV, a natural health video sharing site that has now grown in popularity. He's also a successful software entrepreneur, having founded a well known email marketing software company whose technology currently powers the NaturalNews email newsletters. Adams also serves as the executive director of the Consumer Wellness Center, a non-profit consumer protection group, and practices nature photography, Capoeira, martial arts and organic gardening. Known as the 'Health Ranger,' Adams' personal health statistics and mission statements are located at www.HealthRanger.org
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Wednesday, January 07, 2004
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