Ready for a permanent 60% increase in federal taxes? U.S. government spending is out of control...

Email this article to a friend

Printable Version

Articles Related to This Article: • Corporate greed, corruption, and the coming collapse of America as we know it • U.S. government may require nutritional information on restaurant menus • Bird flu spreading rapidly; U.S. government warns population Support NaturalNews advertisers - Advertise with NaturalNews Help support NaturalNews with health books and educational programs from Truth Publishing: • Swine Flu Advanced Preparedness • 8 Weeks to Vibrant Health • Raw In Ten Minutes (recipes) • How to Halt Diabetes in 25 Days ... and much more.

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 researcher and author with a passion for sharing empowering information to help improve personal and planetary health He is a prolific writer and has published thousands of articles, interviews, reports and consumer guides, impacting the lives of millions of readers around the world who are experiencing phenomenal health benefits from reading his articles. Adams is an honest, independent journalist and accepts no money or commissions on the third-party products he writes about or the companies he promotes. In 2007, Adams launched EcoLEDs, a manufacturer of mercury-free, energy-efficient LED lighting products that save electricity and help prevent global warming. He's also the founder of a well known HTML email software company whose 'Email Marketing Director' software currently runs the NaturalNews subscription database. Adams is currently the executive director of the Consumer Wellness Center, a 501(c)3 non-profit, and pursues hobbies such as Pilates, Capoeira, nature macrophotography and organic gardening. Known on the 'net as 'the Health Ranger,' Adams shares his ethics, mission statements and personal health statistics at www.HealthRanger.org


Get articles like this delivered to you FREE in our popular email newsletter

Related CounterThink Cartoons:

Related Articles: • Corporate greed, corruption, and the coming collapse of America as we know it • U.S. government may require nutritional information on restaurant menus • Bird flu spreading rapidly; U.S. government warns population	Take Action: Support NaturalNews.com Email this article to a friend Share this article on: NewsVine | digg | del.icio.us Permalink to this article: http://www.NaturalNews.com/000686_US_government_government_spending_debt.html Reprinting this article: Non-commercial use OK, cite NaturalNews.com with clickable link. Embed article link: (copy HTML code below): <a href = "http://www.NaturalNews.com/000686_US_government_government_spending_debt.html">Ready for a permanent 60% increase in federal taxes? U.S. government spending is out of control...</a>