The United States "Dead Government Walking"
Nov 4, 2009 at 7:51 PM
DailyBail in Federal Bankruptcy, bailouts, bankruptcy, debt, default, deficit, federal debt, federal deficit, government, government, government bailout, government spending, government spending

Don't look for rose petals and purple unicorns in this piece from fund manager Eric Sprott.  Rome is burning, officially, and it's just a matter of time until the United States defaults.  The Peterson foundation keeps an unpleasant running count of our total national debt including unfunded obligations for social security and medicare.  It's more than $55 trillion.  That's a lot of promises made without a single dollar allocated.  Remember that next time you hear Krugman or some other Keynesian tell you that deficits don't matter.


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