Deficit
Global Debt-to-GDP Dangerous as U.S. Debt Approaches $17 Trillion
The Fiscal House is Out of Order. Many EU countries are either in default, near default or pushing their debt to levels that are unsustainable, including the United States.
What is the U.S. doing about its ever-growing deficit? Nothing. The Obama Administration shifted to more ‘critical issues,’ such as same-sex marriage, immigration reform, restricting the Second Amendment, or who might be President in 2016. Except for perhaps major industrialized nations such as Germany and China, the world is failing to properly address their most critical issue – their fiscal house.
Germany is the lead lender to the EU bailouts, and China is the lead foreign lender to finance U.S. debt. At some point, something has to give way. Read More…