[Theoria]

'Given our unsustainable national debt — nearly $17 trillion and climbing — America is said to be in decline, although we face no devastating plague, nuclear holocaust, or shortage of oil or food.'

The US economy has been using debt to fund the economy and growth for decades. Without the drug of debt, there would be no growth. That is a fundamental problem with our economy and structure; one that our politicians and populace has failed to engage.

[griswold3]

“There are plenty of official proclamations as to how much debt the USA has-$16 Trillion.

But the unofficial debt, using Generally Accepted Accounting Principles (GAAP) now stands at $238 Trillion. Against an annual GDP of approximately $16 Trillion, that means that every dollar of value created by goods and services for the next 15 years is already spent. And that number, by the way, is in today’s dollars.”

http://capitalisteric.wordpress.com/2013/02/07/the-30000-foot-view-of-whats-coming/