On Friday, January 29th, 2016 the Federal Debt hit slightly above the $19 Trillion mark – $19.012 Trillion to be exact. Interesting to note that the last $1 Trillion increase occurred in a mere 13 months; the previous increase required 14 (months).
Congress, with immense pressure from the White House, has found it fitting to do-away with any financial restraint and it has accomplished this merely by successive suspensions of the Debt Ceiling Limit. This began in February of 2014 with the introduction of the “Temporary Debt Limit Extension Act.” The greater shame in all of this is that no one seems to care that this exhibition is not only a complete abdication of fiscal responsibility but also a brazen taunt that can and most certainly will end in crisis and for those not protected by government influence, it will be apocalyptic.
The only thing, at the moment, keeping the inevitable at a distance is that every major economy on the planet is, strangely enough, in an equal or worse state of risk; each playing the same hyper-debt-spending game of fiscal roulette. Again, that may be fine for those with government influence, but for those with diminishing prospects the globalized fantasy of compartmentalized-by-nation economic shuffle board are rapidly narrowing (if they’ve not already evaporated) your financial option.
In order to reverse this strain of chaos drastic changes in Washington are required! And no, the “Bern” is a total flame-out where functional solutions are concerned.
Curtis C. Greco, Founder