Business Week

Business Week.
Mark Weisbrot agrees with me as he makes the case that the US cannot
sustain superpower spending for much longer. A combination of a high
current debt levels (67.5% of GDP), a high annual deficit of $639
billion (this is less the sleight of hand with the trust funds), rising
interest rates (inflation is again on the march with a rate of 4.9%
over the last six months and the fed is on its case) that will balloon
debt payments, and a potential pullout of foreign investors (as the
dollar begins its inevitable long slide to balance our ballooning trade
deficit) will sink us if we continue to spend like we do. [John Robb's Weblog]

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