The U.S. Deficits Chart….Spending vs. Revenue. What Would Our Personal Balance Sheets Look Like If We Did This, You’re Right If You Said We Would Be Bankrupt In Short Order!

Posted By on January 30, 2010

The U.S. is running massive deficits. If we do not get them under control, we will one day, and perhaps quite soon, face our own “Greek moment.” Look at the graph below, and weep.

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Obama offering to freeze spending by 17% in US discretionary-spending programs, after he ran them up over 20% in just one year, is laughable. Greece is an object lesson for the world, as Japan soon will be. You cannot cure too much debt with more debt.

From www.frontlinethoughts.com

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