I almost cannot believe my eyes.
According to ABC via Yahoo! News, President Obama believes there is no debt crisis in the United States.
All I can say is, “Wow!”
Pardon my sidestep from the typical Enwealthen fare of personal finance, investing and wealth-building. Although Enwealthen is not about politics, politics drives the fiscal sanity of your investments, and can improve or destroy your financial plans, be it financial freedom, retirement, paying for your child’s education, etc. You must pay attention to what the leaders of the countries you invest in are doing to save or threaten your financial plans.
His comment on the debt crisis is political grandstanding, to be sure. This is not a Democrat thing. This is not a Republican thing. This is a shared insanity thing. For those keeping track, personally, I believe the Democrats and Republicans are two sides of the same coin, and the only hope for our country is the creation of a third party to break the current two-party gridlock.
We don’t have an immediate crisis in terms of debt
– President Barack Obama
However, for a country that is:
- $16,710,955,773,403 in debt, and climbing
- Creating $85,000,000,000 in new US dollars every month, devaluing the hard-earned money in your savings account
- Has completely failed to address the incipient Social Security / Medicare / Medicaid crisis
- Thinks a “cut” is reducing the rate of growth of the deficit, rather than reducing the actual deficit
- Holding national debt well north of 100% of the nation’s GDP, and climbing
It’s difficult to imagine how much more of a debt crisis we could be in.
Debt Crisis A Go Go
America is turning into Japan, and if we survive what our leaders are doing to us, our best possible outcome is a 20 lost years similar to Japan’s. There are only two people I see keeping their eye on this ball: Kyle Bass, and to a lesser degree, Robert Kiyosaki. I recommend studying their thoughts on the next 5 years for Japan, the US, and the world.
Be careful out there.
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What do you think? Are we facing a debt crisis in the U.S.?
Image of President Obama holding a hypnodisk courtesy of illuminating9_11.