[quote=Zeitgeist]”The United States is not only not saving nuts, it’s eating the ones left over from the last winter.”
New York Times: U.S. Racing Toward Debt ‘Shock’
“A page one, top-of-the-fold New York Times report Monday warns that U.S. debt is rising so fast that the federal government is careening toward a ‘payment shock’ in the not-too-distant future.”
“The Times lead headline read: ‘Federal Government Faces Balloon in Debt Payments: At $700 Billion a Year, Cost Will Top Budgets for 2 Wars, Education, Energy.’”
“The Times headline appears eerie just as the Senate moves to push forward on a radical healthcare reform — with CBO estimates for a final bill costing nearly $1 trillion dollars over the next year.”[/quote]
Meanwhile, Bill Gross of Pimco has increased his fund’s holdings of US-government-related debt from 48 percent in September to 63 percent now.
