Read carefully, this is a test:
The former comptroller general — which heads the Government Accountability Office — had some unsettling words regarding U.S. debt and the recent debt debate. According to him, the U.S. is on its way to becoming like Greece, whose debt problems have plummeted that country into economic hell.
“We are less than three years away from where Greece had its debt crisis as to where they were from debt to GDP,” David Walker told CNBC.
“We are not exempt from a debt crisis,” he added. “We’re never going to default, because we can print money. At the same point in time, we have serious interest rate risk, we have serious currency risk, we have serious inflation risk over time. If it happens, it will be sudden and it will be very painful.”
Source The Blaze
Did you catch the key assertion?
“We’re never going to default, because we can print money.”
Translation from ‘progressive-speak’: we will devalue the dollar until it is worthless.
Just to clarify the point of the graph …
… they’ve already killed 97% of the dollar.
