So far so good. But then where does that leave the economy?
All of these will will add to the deficits big time. As per available information, the U.S. federal government is is likely to add another $8 trillion in deficits over the next 10 years. If that forecast becomes a reality, the already-onerous national debt would soar to more than $20 trillion. In fact, the US national debt crossed $14 tr as on 31st December, 2010. The US may hope to inflate and debase (their currency) their way out of trouble, but that will finally leave an economy that will never ever look like the US economy that we all knew all these times.