US public debt equal to 101% of the economy in 2021!

I've been researching "global economic collapse", and came across this very interesting (and disturbing) article at

Article

The main points are as follows;

The CBO predicts a public debt equal to 101% of the economy in 2021. And that’s the good news. They also predict that it could rise to 187% by 2035 unless we do as Carlos Santana suggested and change our evil ways.

Is the sky really falling in the US?

As an Australian, I read this with a degree of fear and unbelief - is the US government incapable of reining in spending?

Is the brink passed, or can it be reversed?

Way before that. More like 2012... or it's already been the case for years, depending on the way you calculate it.

Those ``official`` numbers are BS.

As much as us Americans speak of cutting spending, I can't help but wonder if Americans will tolerate such cuts.

Many Americans are dependent on the government in one form or another. Some are employed, others receive benefits, others have contracts..etc.

Will Americans make the sacrifice?

A hard pill to swallow IMO.

True - scary point at the end;

We cannot help but think that even the CBO is being conservative in its forecast. When they say the debt will lower income growth, what they really mean is that it will destroy growth, destroy the dollar and eventually destroy the nation.

Either we made a decision to vouluntarily cut our collective dependence or that choice will be made for us.

Americans are already making big sacrifices. Go to any town and look at the schools, roads, etc...

Its time to put most of the military on the chopping block.

At the very least, all this stuff about the Pentagon being a bottomless black hole of gushing money. Contractors and sub-contracters feeding off of deals for $400 light-bulbs and $8 paperclips...

There is an irrational quality in the way otherwise sane people who recognize the budget problem are reluctant to cut the military spending.

Originally posted by Partygirl
Americans are already making big sacrifices. Go to any town and look at the schools, roads, etc...

Its time to put most of the military on the chopping block.

At the very least, all this stuff about the Pentagon being a bottomless black hole of gushing money. Contractors and sub-contracters feeding off of deals for $400 light-bulbs and $8 paperclips...

There is an irrational quality in the way otherwise sane people who recognize the budget problem are reluctant to cut the military spending.

i disagree, americans are no making big sacrifices. they simply ran out of money. if they had it there way they would raise the debt limet and keep the party going unitl next year

1/3rd of America will be dead in 9 years.

Who's going to pay the debt?

reply to post by Pervius


Well, they can't export cars. The world don't want those.

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