The Debt Bomb – Does Anybody Even Care?

August 2, 2012   |  

Are the American people deaf, dumb and blind?  Maybe they are just aloof or even arrogant but whatever ails them, the American people are definitely in dire need of a stone cold reality check.  Perhaps this video will help.  While formatted for entertainment for the entertainment obsessed American public, the 3 minute video portrays a shocking truth that nobody in America wants to hear let alone deal with.
[youtube http://www.youtube.com/watch?v=GXcLVDhS8fM&fs=1&source=uds]

 

Debt bombs are currently detonating in Europe.  In Greece, the debt bomb has detonated.  In Spain, it’s massive debt bomb is currently in the process of detonating.

Problems in Spain: Revenues Collapse, State Spends Nearly Twice as Much as Revenues Collected in First Half

100,000 Workers in Spain Will Not be Paid Because Regional Government of Catalona is Broke

Italy and Portugal aren’t too far behind Spain and Greece.  USNew just reported that the federal deficits are the highest since the 1940’s, here and also stated “In every second of 2011, for example, the government spent $114,253—even though it was only taking in $73,043 in revenue. According to Face the Facts, that means the federal government spent $41,210 every second that it didn’t actually have.”

Think about that.  The federal government is spending $114,253 per second on revenues of $73,043 per second.

What makes us so different from Greece and Spain?   We aren’t and what is happening elsewhere will happen here in America to the American people.  It’s only a matter of time and time is running out.

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