A Cancer That will Destroy the Country from Within
It's a story not being told by the mainstream media, but Erskine Bowles, President Obama's debt and deficit commission co-chair, offered an ominous assessment of the nation's fiscal future last Sunday, calling current budgetary trends a cancer "that will destroy the country from within" unless checked by tough action in Washington.
Bowles, who must have been living under a rock for the past decade, said that unlike the current economic crisis, which was largely unforeseen before it hit in fall 2008, the coming fiscal calamity is staring the country in the face. "This one is as clear as a bell," he said. "This debt is like a cancer."
For those of us who have not been under that rock with Bowles and others in our government, we have seen this cancer spreading for quite some time. It's not rocket science for us… it's common sense.
America’s debt is expected to surpass $14 trillion next year—around $47,000 per American. Bowles warned that if America continued on its current path, just the interest on the debt payments would be around $2 trillion by 2020.
Hello? Are you hearing what I'm saying?
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