Author Archive: GoldSilverWorlds

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US national debt a runaway train

| September 5, 2012 | Articles: Insights
US national debt a runaway train

$16 trillion. $16,015,769,788,215.80 to be exact. That’s the amount that the US government’s national debt stood at as of last Friday, as it crossed into the $16 trillion-mark for the first time ever. ZeroHedge points out that this amounts to 102% of US GDP – up from just 76.5% when President Obama took office in January 2009. A collapse in federal tax revenue is of course the standout reason for this surge in debt (Washington’s spending has increased modestly in comparison with previous decades, and looks no different from increases seen during Bush junior’s years in the White House). Regardless of the reason, it spells trouble for the USA, and this is […]

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