Monday, February 04, 2008

U.S can't sustain

San Jose Mercury

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U.S. can't sustain

deficit indefinitely

All great societies pass this way eventually, running up unsustainable debts and printing (or minting) currency in an increasingly desperate attempt to maintain the illusion of prosperity. They simply collapse under the weight of their accumulated debt, as did the United States and Europe in the 1930s, or they keep running the printing presses until their currencies become worthless and their economies fall into chaos. The United States has the biggest deficit it has ever had, amounting to nearly $9.2 trillion. There has to come a day of reckoning, and it looks like it's about to come.

Ted Rudow III,MA
Menlo Park

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