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Dollar in Danger- The Greatest Threat to America


Added on Jun 19, 2008

Length: 09:49 | Comments: 1

See also 1 Dollar a Gallon- The real price of Gas This is the single greatest threat to America. The official national debt figure, now approaching $9 trillion, reflects only what the federal government owes in current debts on money already borrowed. It does not reflect what the federal government has promised to pay millions of Americans in entitlement benefits down the road. Those future obligations put our real debt figure at roughly fifty trillion dollars- a staggering sum that is about as large as the total household net worth of the entire United States. Your share of this fifty trillion amounts to about $175,000. Don't believe for a second that we can grow our way out of the problem through a prosperous economy that yields higher future tax revenues. If present trends continue, by 2040 the entire federal budget will be consumed by Social Security and Medicare alone. The only options for balancing the budget would be cutting total federal spending by about 60%, or doubling federal taxes. To close the long-term entitlement gap, the U.S. economy would have to grow by double digits every year for the next 75 years. The answer to these critical financial realities is simple, but not easy: We must rethink the very role of government in our society. Anything less, any tinkering or "reform," won't cut it. To learn how to help change this check out ron paul president obama giuliani republican money bomb news hillary cnn fox debate msnbc politics president candidate obama hillary rudy giuliani economy finance abc week sign new hampshire huckabee bill o'reilly fox news factor petraeus report iraq war liberty freedom presidential candidate republican john mccain edwards evansville indiana liberty dollar fbi secret service raid federal reserve notes unconstitutional 4th amendment CSPAN tyranny BenBernanke Monetary Inflation US FED money Economy politics gao USA patriot deficit bankrupt bernanke hyperinflation Documentary News

Channels: Money & Politics  

Tags: money  creation  Ron  Paul  Ben  Bernanke  Monetary  Inflation  US    FED  Economy  politics  gao  fdic  patriot  deficit  bankrupt 


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