We Have 5 yrs Before Debt Turns into Death Spiral

This sure is an ominous headline.  We only have 5 yrs left until all the money the government borrows will just go to pay the interest on their debt!  Wow!  If you think Dems and GOP are fighting now, just wait til that happens!  USA could go down in history as the wealthiest nation that ever went broke.

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According to the U.S. Treasury Department's Office of Debt Management, the U.S. government is just five years away from the point of no return.  With the national debt spiraling quickly out of control, there are only a few years left before every single dollar the government borrows will go toward funding interest payments on the national debt.

Once we reach that point, the government will have reached the "death spiral," a point at which the complete collapse of the government and financial system is imminent.

Cities and territories in the United States that have crossed that "event horizon" to the crisis point. They have all either gone through bankruptcy proceedings or their equivalent, or they have implemented major fiscal reforms that reversed their fiscal deterioration, wherein the best-case scenarios, they acted to restrain the growth of their previously out-of-control spending to restore their fiscal health.

Don't hold your breath that the U.S. government will quell it's spending habits

http://www.prophecynewswatch.com/article.cfm?recent_news_id=3195