Thread: Debt is Crushing the US

Originally Posted by bootsalinda

But yet the Governments of this country, both state and feds, have shown no sign in slowing down spending.

They will just make us pay for it.

Did you see the head of the GAO on Glenn Beck's show last week? We can't pay this back. We are already about $400,000 per household in debt to the government already. And that doesn't include our own personal debts, like mortgages and credit card debt. Almost 65% of our GDP is consumer spending. That simply cannot be sustained.

This is exactly how the Soviet Empire came crashing down. They didn't lose a war, they fought a lot of wars then went bankrupt.

http://www.youtube.com/watch?v=I-16u9x3tfE

And here's the same guy, saying essentially the same thing on 60 Minutes over a year ago, with some different details.

http://video.google.com/videoplay?docid ... 2848217743

Hey.... But we could afford to spend over a TRILLION in Iraq. And still spending.

Who is going to pay that?


Pull the plug or make them pay.

Originally Posted by totallybeachin

This scares the hell out of me. Since we know the government doesn't care, what is there to do when this happens? Is there any hope for any of us?

It's scaring me too...I'm a news junkie and things only seem to be getting worse in this country...My husband keeps telling me to take a large chunk of money (cash) out of the bank and put it in a safe place in our house. He keeps telling me "what if things get really bad with the banks,we may not have access to our money." I don't like to think that, but who knows anymore, I don't trust any of the people in charge. They have lost all credibility!