Will The Long-Anticipated Financial Collapse Finally Occur In 2013? Average Americans Are Starting To Feel The Pain of US Debt And Monetary Base Expansion About To Go Into TURBO DRIVE

Are we heading towards an Economic Collapse? Preparing for Financial Armageddon

Our county sits at over 16 trillion dollars in debt, with unfunded obligations that make the actual debt number about $120 trillion. The reality of the situation is there’s really no way out of the situation. Our government, thanks to both political parties, has spent us into a hole that we cannot dig ourselves out of. The facts, that nobody seems to want to talk about, indicate our country is still heading towards a complete meltdown of the financial system.
You can choose to believe the lies that are being spoon feed to you by the mainstream media, or you can look at the reality of the situation; our Economy is still facing some enormous challenges, and the prospects for a full economic recovery don’t look very good. The financial problems that lead to the housing / financial market crash of 2008 have not been fixed; in fact, many of these problems are even worse today than they were in 2008.

Preparing for an economic collapse

Twenty years ago, most people would have said you were crazy for thinking our system could collapse. Even today, most of our country is either unaware, or has forgotten how closely we came to a complete collapse of the financial system during the banking crisis of 2008.

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Average Americans are feeling pain of US debt

When it comes to the nation’s debt, payback time might be here.

Years of low tax rates and rising federal spending, amplified by the devastating economic effect of the Great Recession, have driven the U.S. borrowing tab to more than $16 trillion from less than $1 trillion in 1981.

Deficit reduction has become the dominant issue in Washington. The first major tax increase since 1993 took effect last month. And large automatic spending cuts – $1.2 trillion in the next decade – are set to kick in Friday.

The result: Average Americans are starting to feel the pain.

“The day of reckoning is here,” said David Walker, a former U.S. comptroller general who has been warning about the nation’s long-term fiscal problems for several years.

“We’re at the end of an era where we have Democratic spending policies and Republican tax policies,” he said. “The result has been huge deficits and mounting debt burdens. It doesn’t work.”

In attempts to solve the problem, Republicans have focused on reducing government spending. Democrats have aimed at increasing taxes on the wealthy. And both parties leveraged their influence in the past two years to get their way.