Boo! – US Economy Haunted By Massive National Debt

Boo! – US Economy Haunted By Massive National Debt

Ebola, shaky economic recovery, decline in oil prices, and increase in national debt – all are contributing factors to the volatility within the current stock market. According to a recent New York Sun article, “Europe, and the sharp decline in the price of oil have renewed doubts about the believability of the economic recovery from the tremendous strains of 2008 and 2009. These were inevitable after the official response in the United States was to increase the accumulated national debt of the country from $10 trillion — where it had arrived, in 2009, after 233 years of American independence — to $18 trillion less than six years later.” Without a doubt, most alarming is the accelerated rate at which the national debt has increased since 2009. Without remedial action, the United States could soon find itself sharing the dire economic fate of Greece and other nations that have for so long chosen to turn a blind eye to the economic impact of their unprecedented national debts.

Regardless of the season, the ghost of national debt will always be around to haunt and harm any and all who fail to display fiscal restraint. As Americans take to the ballot box this November, one can only speculate whether or not the supporters of the current economic status quo will be forced to deal with the ghosts of their pasts.

 

Click here to read the full NY Sun article. 

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