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Towering Federal Debt Hidden In A Monetary ‘Roach Motel’ Where The Bonds Come In But Never Come Out
Tuesday, December 9, 2014 15:36
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by John Morgan at Newsmax Finance
David Stockman’s Contra Corner
David Stockman, White House budget chief under President Reagan, notes it took the United States 205 years to reach $1 trillion in debt, but only 33 more years to get to the current $18 trillion debt mountain. And he says things are about to get worse.
In Stockman’s recollection, the stage for today’s fiscal irresponsibility in Washington, D.C. was set in the 1980s, when Congress finagled to show delayed revenue gains from tax increases and a massive payroll tax was buried in a Social Security rescue plan.
Continue Reading at DavidStockmansContraCorner.com…
Source: http://financialsurvivalnetwork.com/2014/12/towering-federal-debt-hidden-in-a-monetary-roach-motel-where-the-bonds-come-in-but-never-come-out/?utm_source=rss&utm_medium=rss&utm_campaign=towering-federal-debt-hidden-in-a-monetary-roach-motel-where
