To see an extremely simple explanation of why the US debt is what it is, getting worse and will NEVER be fixed, Watch this 5 min clip using the summary of the US govt's own budget for 2012/ 2013.
United States Budget Dilemma.wmv - YouTube
Basic math here, outgoings grossly exceed incoming cash flow. No end in sight.
Did you notice how in the big red graph,( at 3min:11sec) it was 1942, mid WW2 before the debt even registered on the graph and stayed throughout the war and until 1980-1982 at approx 1/3 to 1/2 trillion, then it went to 1 trillion.After that the only slight slowdown was in the yr or 2 after 9/11.
Also note at 2008-09 after the last election the debt was 9 Trillion the slope of the curve steepened dramatically.
Notice too how he says the
current US debt is 25% of the whole worlds GDP.
I would say "God help America", but I don't think that will happen.
Congress got the country into this mess and it doesn't look like, based on the future year figures on the pages he highlighted on, it is ever going to fix it.
Pause the pages and Have a look at the future year figures in the same rows he has highlighted for the 2012 year in his explanation.
Damn terrifying.
