“interest payments alone will account for 45 percent of all federal taxes that will be collected in 2015.”
And that’s overlooking the fact that we’re already spending 150-200% of that revenue.
Obama’s spending spree was to continue the American death spiral. I’m sure Soros has a few hundred million bet against us.
Illinois can’t pay there lottery winners. Today it’s announced they can’t pay state retirees. They may be the first state to declare bankruptcy.
But those riding in the wagon outnumber those pulling it. If it was 47% when Romney was running, it’s worse now. Young people are deluded into thinking Bernie Sanders has good ideas. For liberals, the only cure for the disasters they cause is more liberalism.
The U.S. is headed the way of the Soviet Union. A breakup without a shot being fired due to unsustainable economic policies.
What Kevin D. Williamson doesn't tell us is where do we go to 'declare bankrupcy' and who do we 'default' on? The Chinese have loaned us money... do we refuse to pay them back because 'we've been to some secret bankruptcy court? It's insane.
Or do we default on the money we've held by the American people? Tell them 'the Treasuries they've bought and earn interest on are now worthless?' Gimme a break.
The next time the United States needs money WHO WILL LOAN TO US? NO ONE.
If we default we lose reserve currency status.. we'll be the same as Haiti - won't be able to 'inflate' our money because no one will be holding our dollars but us. Haiti can't 'print more money' to ease their debt because they're financial losers. That's what Kevin D. Williamson wants to turn us into... Some black loser country... this is almost too stupid to comment on.