American Thinker: America's Predicament

American Thinker: America's Predicament
"America's public debt recently exceeded 13 trillion. This is more than 90 percent of the country's GDP.

Public debts of more than 60 percent of GDP are considered unhealthy. Public debts above 90 percent of GDP cause severe disruptions in the country's financial framework and the economy at large.

According to the Obama administration America's public debt will exceed 100 percent of GDP in the next fiscal year.

History shows that most countries whose debt exceeds this mark are rarely able to control it.

This level of indebtedness usually leads to currency debasement."