I saw a statistic recently which was very scary
In the first 5 months of fiscal 2012, the USA has racked up $727 in deficits (typically, deficits are higher before April)
At the same time, tax COLLECTIONS were $625.5 billion ($2 billion below last year - and the economy is supposed to be growing!!???)
The US Federal Government is actually borrowing even more than it collects in taxes.
We are so screwed!!
Yep. What happens to a family that keeps borrowing more and more on the credit card while dad keeps getting pay cuts? And the results are much more devastating when it happens to the most powerful country the world has ever known. It will not be without significant pain.
...of biblical proportions. Literally.