15 Apr '11, 9pm

Home World Who'll save America from drowning in debt?: by Jeremy Warner If you want to scare yourself with stati...

If you want to scare yourself with statistics, go to www.usdebtclock.org. This brilliantly conceived Internet graphic engenders much the same feeling you get when watching the extortion of the meter in a London taxi; at some stage, you know you are going to have to get out and walk. Amongst much else, what it shows is the real-time accumulation of United States public debt. When I last looked, this was approaching US$14.23 trillion (S$17.71 trillion), or around 100 per cent of GDP. Higher and higher, the big number goes. So extreme is the country's addiction to debt that, if nothing is done, it will surely force the wholesale retreat from the New World's century-old dominance of international economic and geopolitical affairs. Worse, the medicine required to correct the problem threatens to be so strong that it may force that same retreat in any case. According to analysis...

Full article: http://www.todayonline.com/World/EDC110416-0000287/Wholl-...

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