Tuesday, September 20, 2011

The point of no return: US debt and borrowing since 2008

There have been many events and eras in American history where borrowing by the government was necessary to facilitate resolving an economic crisis, or to pay for necessary wars.  However, in every case but the current one, once the crisis was over, debt and borrowing ceased.

Thanks to inflation created by the FED since the 1980's, and the crisis of 2008 however, American no longer has the ability or the will to turn off the debt spigots, and as seen by this chart, we have crossed over the point of no return.

Thanks NAFTA (1994).  Your purpose in sucking the wealth of America out the door is almost complete.


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