Alex will now explain what happens when your govt. spends so much money that the national debt becomes greater then the GDP. (if you dont know what the GDP is then get of your fingers and google it because it may actually matter to you and your progeny)
A debt greater than the GDP means two things (in my feeble waffle of a brain)
A: Shanty Towns, food riots and and collapsed fiat currency.
B: A really big domino falling down after being hit by the dominos that were Greece, Italy, England Portugal, and Spain.
I dont like to get negative but I have no problem with the ugly truth, a good artist doesnt hide from truth if you do your art is pet photography.
For years, both Republicans under G.W. Bush and Democrats have justified debt by saying that as long as the GDP is greater than the debt, everything will be Ok. Well, that's no longer the case. This is something that both Democrats and Republicans should be terrified of as well as the public. If the governement continues to spend irresponsibly, average citizens become deeply affected because any savings they have won't be worth anything. Currency is only as good as the country backing it. The US government is setting itself up to crash in a download spiral. Can it avoid it? Yes, but it needs to start now and there seems to be no sign of that. Common sense tells us that you can't spend uncontrollably year after year more than you make. Ask anybody whose done that and gone into bankruptcy as soon as the slightest drop in income threw off their ability to even make the minimum payments. The debt, in regards to every citizen is now over $100,000. I don't have my $100,000 share... do you?
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