Fiscal Cliff Source

Today, an article was published that further expands on comments I made in an earlier blog:

The question is asked: Why haven’t Americans heard about the titanic $86.8 trillion liability from these programs?

If you have been reading our blogs over the last few years, you have heard about this issue.  The mainstream media has no interest in “telling it like it is”.  Objective reporting was lost some time back.  They are now in the “perception” business.

Hyper-inflation is the real risk with this kind of liability.  The government is borrowed up to the hilt.  The only viable means of repayment is with depreciated dollars.  Then the bond market will retaliate by increasing interest rates thus causing a deeper deficit.  There is not a painless outcome on the horizon.

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