''How the U.S. Will Become a 3rd World Country''

a must read............from goldseek.....

"The U.S. federal government’s fast growing debt is $14.94 trillion, approximately 100% of GDP.  Additionally, future liabilities total $66.6 trillion based on generally accepted accounting principles (GAAP accounting) and using official data from the Medicare and Social Security annual reports and from the audited financial report of the federal government.

1. Medicare: $24.8 trillion
2. Social Security: $21.4 trillion
3. Federal debt: $10.2 trillion* (not including intra-governmental obligations)
4. State, local government obligations: $5.2 trillion
5. Military retirement/disability benefits: $3.6 trillion
6. Federal employee retirement benefits: $2 trillion

The eventual insolvency of the U.S. federal government cannot be averted through any combination of taxes, budget cuts or realistic GDP growth. Inflationary policies, i.e., increasing deficit spending by the federal government and debt monetization by the Federal Reserve, would devalue the U.S. dollar and potentially trigger a hyperinflationary collapse of the currency.  To stave off the inevitable, interim measures might include tax increases, exchange controls,nationalization of pension funds or other measures similar to those taken in 3rd world countries"................READ MORE