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Japan’s Debt Crosses Quadrillion-Yen Mark; U.S. on the Same Path?

by Sasha Cekerevac, Investment Contrarians:

When we enter the 2013 fall season, we will surely be hit with yet more talk regarding government debt. As the U.S. hits the debt ceiling once again, political grandstanding will be the name of the game.

While the budget deficit has improved from the depths of the recession, it is still significantly large as it continues to pile onto the government debt total, now approaching $17.0 trillion.

The real problem is that politicians are shortsighted. They’re not interested in what will occur 20 years from now, but what will get them elected over the next couple of years. This causes a huge incentive problem.

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1 comment to Japan’s Debt Crosses Quadrillion-Yen Mark; U.S. on the Same Path?

  • Rodster

    According to Jim Rodgers because the US has so fraudulently cooked it’s books the national debt really isn’t 17T. It’s actually around 50-100T with conservative estimates and could even be higher than 100T. 😉

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