We re just a few links into the chain of destruction, and things are already starting to get fun. Or maybe another f-word? As federal finances implode under their own weight, we have a front row seat to the show, offering good perspective on where we re going.
First, here s the current situation: the US is running $2+ trillion annual deficits. The federal debt is about to exceed $35 trillion. In fact, it may have done so last Friday, we just don t have the numbers in yet. On Thursday of last week, the debt had breached $34.998 trillion – for the Treasury, that s within a rounding error of the next milestone.
