Government Will Destroy Our Economy

When a government gets to the place where they forced to borrow .40 cents on every $1 that they spend....common sense just tells you that it won't end well.

Now what happens when a government has to start borrowing money simply to pay the interest on the money they already borrowed....a first grader without common sense can tell you that it can't end well.

When you reach a certain point....it can become the 'point of no return'.

Most people don't understand the unsolvable problem the U.S. government has created for itself and its citizens. Sovereign default is beyond a likelihood; it is inevitable.

When and which (possibly all) obligations are defaulted on will be determined by panicked politicians under duress. A complete financial and economic collapse appears unavoidable. I hope that is the worst that will occur.

Conclusion
The claimed debt of the federal government ($16 trillion) is enough to threaten its viability and that of the U.S. economy. The current glide path of spending and revenues ensures that debt will increase.

  Explicit and implicit Treasury guarantees will require additional debt to bail out failing public and private agencies. The situation becomes hopeless when the unfunded liabilities are taken into account.

Buckle up for a very scary ride.

Read more: http://www.americanthinker.com/2012/08/the_government_is_bankrupt_and_will_destroy_the_economy.html?utm_source=twitterfeed&utm_medium=twitter#ixzz2478EZvJr

Yes, a very scary ride indeed.

When lawlessness breaks out and the demons of anarchy are released....we very quickly will see how wicked the human heart truly is.

I wonder if articles like this are behind the millions upon millions of gun purchases in America over the past three years?