The Great Debt Threat
Shawn Tully, senior editor of Fortune Magazine, recently penned a sobering article on the U.S. government's huge structural deficits that will likely keep building far into the future: "In 2008 federal borrowing accounted for 41% of GDP, about the postwar average. By 2019 the burden will double to 82% by the CBO's reckoning, reaching $17.3 trillion, nearly triple last year's level. By that point $1 of every six the U.S. spends will go to interest, compared with one in 12 last year."
Click here for Tully's article, which includes speculation about a value-added tax to be passed along to consumers in the form of higher prices.