Is It Bankruptcy Time for America?
1 year ago
191
ewr
kevin freeman
texas transactional gold
gold backed money
gold-based money
glintpaly
greg abbott
texas economy
constitutional money
fed now
digital money
"I tried to look ahead at least ten years to where we might be. At that time, we had $16 trillion in debt. Today it's doubled. It's over $32 Trillion. Our net interest cost in 2013 was about $200 Billion. That's a lot of money to pay in interest. But at present interest rates, and the current debt level, interest only will top $1.6 trillion very soon. That's simple math, $32 trillion times 5%. And more than half of all our tax receipts will be paying interest only. They call that bankruptcy time." - Kevin Freeman, CFA
@ EconomicWarRoom
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