- Years of unrestrained spending
- Cheap lending
- Failure to implement financial reforms
- Huge national debt
Do these symptoms sound familiar? They should. For instance, just last week Congress and President Obama raised our national debt ceiling to $14,300,000,000,000. Our forcasted GDP for 2010 is about the same (±$14.5 trillion). Not since WWII has our national debt even come close to reaching our annual GDP. Pretty scary since we won't have the luxury of an EU bailout.