http://www.
investmentcontrarians.
com/debt-crisis/folks-we-have-16-0-trillion-in-debt/829/
Folks! We Have $16.
0 Trillion in Debt
By George Leong for Investment Contrarians | Oct 17, 2012
When you scroll through the pages of Investment Contrarians, you...
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http://www.
investmentcontrarians.
com/debt-crisis/folks-we-have-16-0-trillion-in-debt/829/
Folks! We Have $16.
0 Trillion in Debt
By George Leong for Investment Contrarians | Oct 17, 2012
When you scroll through the pages of Investment Contrarians, you cannot help but notice the
running U.
S.
national debt counter that sits at over $16.
2 trillion and rapidly moves higher.
With
every passing second, America is growing poorer and will continue to unless major changes are
made, but it will be difficult.
At the core of the problem is the direction of the upcoming “fiscal
cliff” and its impact on the economy and national debt.
Automatic and massive budget cuts are forthcoming in January, unless an extension is made.
At
first, this may sound like the correct strategy but, as many of you know, cutting government
spending will impact the country’s already fragile economic recovery.
And what concerns me
more is where the cuts will be made.
The problem is that a significant cut in fisca
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