As Mark Steyn noted in his book, After America, he does not believe that either Democrats or Republicans are able to stop spending taxpayer money. They remain clueless of the road to ruin they are leading the nation.
[From article]
Over the century that followed, the US has gone from being the biggest creditor in the world to its biggest debtor.
Decades of expanding government programs, waste, endless and costly wars, etc. have racked up such an enormous pile of debt that it has become almost impossible to pay it down.
A lot of folks don’t realize that, since the end of World War II, the US government’s total tax revenue has been almost constant at roughly 17% of GDP.
[. . .]
simply put, the US government has reached a point of no return.
http://www.zerohedge.com/news/2014-12-12/paying-down-debt-now-almost-mathematically-impossible
Paying Down The Debt Is Now Almost Mathematically Impossible
Submitted by Tyler Durden
12/12/2014 13:52 -0500
Published on Dec 11, 2014
Forget the hype, the sensational headlines, and all the talking heads, and let's let the numbers tell the real story. Is it possible for the US to pay off its debt? Can the US grow its way out of debt? Find out more at www.sovereignman.com
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