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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.

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About the author: Mike Adams is a natural health author and technology pioneer with a strong interest in personal health, the environment and the power of nature to help us all heal He has authored more than 1,500 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 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 maker of energy efficient LED lights that greatly reduce CO2 emissions. He also founded an environmentally-friendly online retailer called BetterLifeGoods.com that uses retail profits to help support consumer advocacy programs. 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, Pilates and organic gardening. He's also author of numerous health books published by Truth Publishing and is the creator of several consumer-oriented grassroots campaigns, including the Spam. Don't Buy It! campaign, and the free downloadable Honest Food Guide. He also created the free reference sites HerbReference.com and HealingFoodReference.com. Adams believes in free speech, free access to nutritional supplements and the ending of corporate control over medicines, genes and seeds. Known as the 'Health Ranger,' Adams' personal health statistics and mission statements are located at www.HealthRanger.org


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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>