Thursday, June 25, 2009

THE NEXT GREAT CRISIS: AMERICA'S DEBT

In 2009 the United States will post a deficit of $1.8 trillion. Even looking forward to 2019, the deficit will still be in the trillions, $1.2 trillion to be exact. But this can't go on forever. What will shock America into action is the prospect of fiscal collapse. And making the challenge far greater: Obama's budget is packed with a wish list of expensive new programs, led by a giant health care reform plan, says CNNMoney.com.

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