Growth in the National Debt

May 29, 2012 by · Leave a Comment 

The one inescapable drag on the economy and every American taxpayer or government dependant is the interest obligation paid on the national debt. Indebtedness is nothing new to this country, but the inability to service the public debt stretches over the last half century. This trend is so disturbing that politicians spend every waking hour avoiding the consequences of the ultimate outcome, the demise of the currency. The reserve currency status that has allowed for effortless deficit spending has a day of reckoning. The final collapse of the global empire and superpower will smell more of financial evaporation than of a military defeat.

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