Massive Debt Increases Coming

The White House projects that our national debt will increase by approximately $4 TRILLION dollars by 2014.
http://www.whitehouse.gov/omb/budget/fy2010/assets/borrowing.pdf

And this means that our national debt is spiraling out of control... and eventually the bill will come due.
http://www.thetradingreport.com/2009/12/30/coming-soon-the-bill-for-the-massive-u-s-debt/

Americans could be in for a rude awakening in coming months when they discover the true scope of the massive national debt racked up by the U.S. government.

In fact, the $1.6 trillion deficit expected for 2010, which is above 10% of gross domestic product (GDP), is only the beginning.

Since the current economic crisis began in late 2007, the U.S. Federal Reserve has tripled the size of its balance sheet, creating enormous amounts of new money by lending to hundreds of ailing banks and buying up more than $1 trillion of questionable asset-backed securities.

But that’s only a small part of the story. Since the beginning of the crisis, the Fed has lent, spent, or guaranteed $11.6 trillion, including underwriting the entire system of mortgage finance in the United States, a system that currently shows a nearly $1 trillion loss.

And none of these figures include any of U.S. President Barack Obama’s stimulus packages, which means the actual deficit next year might grow to $2 trillion – around 15% of GDP.

The ramifications of this debt, which is bound to grow larger, will have a profound effect on investors – not the least of which is the imminent decline of the dollar.

PresBo and his liberal co-conspirators in Congress are borrowing this nation into bankruptcy at an unprecedented speed, and it MUST be stopped. We simply cannot afford this kind of fiscal insanity, no matter which party is behind it.