U.S. Government finances have been in deficit spending since 2002.
The U.S. right now owes 500 billion dollars to China. If they asked for their money
we could not pay it back. They likely won't (at least right now) because we have been their best trading partner on earth.
The wars in Iraq and Afghanistan have cost 700 Billion so far and likely will reach a trillion dollars. All that is now owed to foreign countries by the U.S.
The net effect: We are financially bankrupt and fighting wars like we actually had the money to do it.
These problems all caught up with us during the subprime debacle.
There is no easy way out.
Ending the wars might save the nation from something like the Great Depression or worse.
Right now, our nation is so financially unrealistic likely it will be worse.
It reminds me of people who once were rich borrowing the money to pretend they are still rich when they actually are bankrupt out of pride.
Without some reality check the United States is over as a nation.
Note: However, I was taken completely by surprise during the 1980s recession and Savings and Loan Crisis. What I learned then much to my amazement is that Nations, Large Corporations and large religious organizations make up a lot of their own rules as they go along and the rest of us individuals are not privy to all this.
Since we are in a war between the free world and muslim terrorism almost anything can happen and anything you hear on the news cannot be completely trusted to be factual. So be aware that there is public knowledge like I shared above the note and the make your own rules to fit the need that all nations, large corporations and religious organizations do depending upon the need. For example, any nation can just print money, change accounting rules or do whatever they want as long as it is applied consistently to everyone within that nation. So, in a sense almost anything is possible in these times! end note.
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