Put another way, even if the government could somehow pay off that debt at the rate of $100 million PER DAY, it would take 3,446 years before the total government debts and obligations are paid off.
Even if Washington were to pay off $1 billion per day, it would still take nearly 345 years to pay off those debts!
Patently unsustainable debts? Yes! Patently unpayable? You bet it is!
Of course, Washington will never default outright on its obligations. But it doesn't have to. By devaluing the dollar, Washington can effectively pay off its debts with a cheaper currency.
This is why the dollar is falling ... and why savvy investors all over the world are beginning to lose confidence in Washington and our currency ... and why it's all leading to a massive renewed bull market in natural resources, especially gold.
Make no mistake about it: By doing nothing, your finances become a victim of a falling dollar — a currency whose purchasing power has already lost more than 36 percent of its value in the last decade ... will lose a lot more purchasing power in the months ahead ... and eventually lose its status as the world's reserve currency, ultimately replaced by a new world currency.
Bottom line:
If you're appalled as our government's deficits explode — up a staggering 770 percent since 2007 alone — and outraged that our leaders are still finding ways to spend even more ...
If you're horrified that Washington has more than doubled the national debt to nearly $12 trillion since 2000 — and sickened by the likelihood that the Obama administration will double it again ...
If you're terrified that the $104 TRILLION our government now owes us through Social Security, Medicare, Medicaid and veterans benefits programs can NEVER be paid ...
If you're losing sleep over how this great debt default will impact your savings, investments and retirement ...
Washington's Tower of Debts
By: Stock Market Awareness on: Sun 18 of Oct., 2009 08:20 EDT (958 Reads)
Rating:
(7.00/10)
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