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Dollar Crisis Looms if US Doesn't Curb Debt: Experts

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posted on Jan, 14 2010 @ 06:52 PM

I do not understand how there is any way out of a total collapse when, the jobs are in full exodus, the debt is in hypergrowth mode, the tax base is in erosion to nothing, and the interest rates are as low as they are.
Yet these Einstiens in office are the best we have to throw at these problems!

The United States must soon raise taxes or cut government spending to curb its debt, and failure to act will risk a crippling dollar crisis as investor confidence ebbs, a panel of experts said on Wednesday.

The committee identified curbing Medicare, Medicaid and Social Security spending as the top challenge, and had a lukewarm assessment of cost containment in health care reform currently before Congress that Obama hopes to sign soon.

Scratches head until hole appears!

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