The US financial death spiral

The other day, Mark Levin brought to the attention of his audience an article that appeared a couple of weeks ago on the financial blog, “Money Morning,” written by Terry Weiss.

He quotes Richard Duncan, formerly of the World Bank and now chief economist at Blackhorse Asset Management, who says that America is in a financial “death spiral.” He attributes this to the escalating federal debt, which has now reached $16 trillion.

Weiss goes on to quote other economists who estimate that the total national fiscal gap, including unfunded entitlements like Social Security and Medicare, is $211 trillion. And the total credit market debt has been doubling every few years since 1970.

It would be worth reading the article.

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About mesasmiles

By Dr. David Hall. Dr. Hall runs Infinity Dental Web, a small company that does Internet marketing for dentists. He has had a long-standing interest in politics and as a college student toyed with the idea of a political career.
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