Debt crisis escalates: $34 trillion U.S. federal debt raises alarms as interest expense soars to unprecedented levels.

Citizen Watch Report ^

[citizen]

Perot: “Just get under the hood and fix it.”

[SteveH]

Someone must be making money by loaning the US government all of this borrowed money. Too large to fail US banks? If so I would tax them at 99% of their profits.

[cgbg]

We need to elect my old Economics Professor.

He was a genius and explained that the national debt was nothing to worry about since “we owed it to ourselves”.

I laughed in his face.

[T Ruth]

before the inevitable collapse

Very likely Obama and his fellow travelers are trying to destroy the dollar. Also very likely that they have game-planned what comes after the collapse.

If the federal government cannot pay for anything because it has no credible currency, does that mean that the government falls? Would the American people need to form a new government with a new Constitution? And if so, who would control that process?

I don't have any answers, but I suspect that Obama and the DNC are planning for this. It would be a shame if patriotic Americans are caught flat-footed in respect of a foreseeable event which is becoming ever more likely.

[chud]

If anyone is still wondering why the U.S. is allowing the entire Third World to come pouring across our borders, it's because we need to find tens of millions of people who are desperate or dumb enough to think this is a good deal.

Makes sense...need more taxpayers.