Tuesday, April 10, 2007

Looming Financial Crisis

The Politico explores the 2008 elections in "Candidates Ignore Looming Financial Crisis."

One of the biggest problems facing the country in the next 50 years is an explosion of government debt.

Experts call it a "tsunami" of red ink that will swamp the country as it borrows more and more to pay for all the obligations it has incurred for health care, retirement and other federal programs. The multibillion dollar cost of the war in Iraq is but a small part of the problem.

This projected debt is calculated in the trillions. Bringing this planned spending into line with forecasted revenues will make for some of the most difficult political choices the country has faced in years.

Read the rest of the article here.


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