Mayan legend holds the "end of the world" will occur as 2013 begins, spurring apocalyptic catastrophes. In fact, a recent Reuters poll found one in ten people believe the world will end this year. Ironically, like many Americans and ancient Mayans, Washington talking heads believe the end of the world is coming in December.
The United State may be giving it their all at the Olympics, but our preformance back home is another story. At no point in time, even shortly following WWII, has the amount of debt we have in relation to the size of the economy (GDP) been as large as it is this year. Take a look at our latest infographic above to see the Olympic size debt that we have put ourselves in.
As Europe tries to work out its debt crisis, the Olympics are well underway in London. Uncertainty regarding the future economy remains on the world’s leaders’ minds as nations compete. Here in the U.S., the federal debt is rapidly approaching $16 trillion and people still struggle to find work under a stagnant economy.
As America's national debt skyrockets to near $16 trillion, a new cartoon from Bankrupting America highlights how Washington's reckless spending is undermining our economic competitiveness and making us more depending on other nations than ever before.
In a much awaited landmark ruling, the Supreme Court announced today the Affordable Care Act (ie. president’s health care bill) is largely constitutional. Of note, the individual mandate was upheld and requiring states to join a massive Medicare expansion was overturned.