Jan
Coming Soon: The Bill for the Massive U.S. Debt
“Right now, without counting future unfunded liabilities like Social Security or Medicare, our national debt tops $12 trillion. There are roughly 100 million American households. That’s a national debt of roughly $120,000 per family.
“In order to keep the government functioning, Congress just increased the federal debt ceiling to $12.5 trillion. And the party isn’t over yet.
“In an effort to keep mortgage interest rates low, the Fed pledged this month to buy yet another $500 billion of Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) guaranteed mortgage securities.
“But all that spending has a price. And the bill is about to come due.”
This is a n article you cannot afford to miss - it you were not frightened already, you will be by the time you finish reading it.
http://moneymorning.com/2009/12/30/u.s.-debt/
