Top Ten:
1. Government debt is a threat to our way of life, our liberty, even our freedom of religion.
2. It’s not just a U.S. problem — the combined debts of all governments will soon exceed the money available for loan. When that happens, the world hits the Debt Wall and cannot borrow anymore.
3. Deficits feed the debt fire. In 2 years, or less, we’ll hit the Debt Wall and everything will change.
4. Hitting the debt wall will wreck our economy with some combination of punitive increases in interest rates and hyper-inflation. When that happens, a catastrophic reduction in every American’s quality of life is inevitable.
5. Hitting the debt wall will severely damage individual freedoms as the government extends its reach into every aspect of our economy and our lives in order to “manage” the crisis.
6. Even freedom of worship may be threatened as the government extends its control over our churches as well as our businesses and our families.
7. Most of the 50 U.S. States are in immediate danger largely due to the Federal Government mandating programs it can’t fund. When states default, police officers, teachers, healthcare workers, and firefighters could stop being paid.
8. The debt crisis will be led by Japan and Europe. The U.S. has one last chance to right its own ship and lead the world.
9. The U.S. cure requires an immediate reduction in federal spending of $500 billion and a plan that pays the debt down to 70% of GDP within 4 years.
10. The Debt Crisis Index at Nuttle.com tracks these and other factors to provide a constant indicator of just how close the world is to the Debt Wall.
American Report 