The U.S. is spending itself into its own version of a bankrupt Greece and other overseas countries. The problem: Unlike Greece and the others, the free world depends on us and the sanctity of our dollar and its convertibility.
The reported federal debt only tells us what the government partially owes to the public. It doesn't account for hidden obligations, nor to what's owed to seniors, veterans, and retirees.
The federal government financial condition worsens drastically each year, in $ trillions of new debt taken on to meet each annual budget deficit. (See the Earl J Weinreb NewsHole® comments and @BusinessNewshole at twitter.)
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