With a 2nd August deadline looming and unless Congress approves an increase in the debt ceiling, the United States government finds itself running out of cash to pay social security recipients and on the brink of defaulting on interest payments to Treasury bondholders. So just how big is the size of the US$15 trillion "credit card" hole which the government finds itself in? (ie US$15,000 billion, US$15,000,000 million)
Well, let's say it's all piled up in one place using US$100 notes...and take a few reference points like comparing it to the Statue of Liberty, an American football or soccer pitch...
Nope, there's not much hope of this being paid off in a hurry within this generation.
It looks like our kids and maybe, grandchildren, will have to shoulder this burden of excess in the years to come...
How to plan for and protect yourself against the implications:
Just how bad is the US$ financial crisis?
Well, let's say it's all piled up in one place using US$100 notes...and take a few reference points like comparing it to the Statue of Liberty, an American football or soccer pitch...Nope, there's not much hope of this being paid off in a hurry within this generation.
It looks like our kids and maybe, grandchildren, will have to shoulder this burden of excess in the years to come...
How to plan for and protect yourself against the implications:
Just how bad is the US$ financial crisis?
What US$ 1 trillion in US$100 notes look like?
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