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Balooning Deficits…But Who Cares?
In the first 16 days of the new fiscal year the U.S.’ national debt grew by $300 billion. That’s a growth rate of 75% and equates to a debt load of $17 trillion by this time next year. But, as the title of this post states, who cares?…
…definitely not U.S. regulators. You see, it’s very simple. With the greatest creation of money and credit ever seen in the U.S. underway, our fiscal balance becomes irrelevant to those who continue to put our nation further in the red.
The debt must be looked at in real terms not nominal, and we must…
23Oct2008 | The Real Deal | Comments Off | Continued
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