Ballooning debt and a credit downgrade arent Trumps only worries for this country... While 15 percent to 16 percent unemployment, a looming credit downgrade, and ballooning debt are a bleak outlook for the United States, they are hardly as alarming as the scenario laid out by another economist... But Wiedemers outlook for the U.S. economy today makes Trumps observations seem almost optimistic... Where Trump sees ballooning debt and a credit downgrade, Wiedemer sees much more widespread economic destruction... The interview has become a wake-up call for those unprepared (or unwilling) to acknowledge an ugly truth : The countrys financial ``rescue devised in Washington has failed miserably... The United States could soon become a large-scale Spain or Greece, teetering on the edge of financial ruin. That’s according to Donald Trump, who painted a very ugly picture of where this country is headed. Trump made the comments during a recent appearance on Fox News’ “On the Record with Greta Van Susteren.” According to Trump, the United States is no longer a rich country. “When you’re not rich, you have to go out and borrow money. We’re borrowing from the Chinese and others. We’re up to $16 trillion in debt.” He goes on to point out that the downgrade of U.S. debt is inevitable. “We are going up to $16 trillion [in debt] very soon, and it’s going to be a lot higher than that before he gets finished. When you have [debt] in the $21-$22 trillion, you are talking about a downgrade no matter how you cut it.”
Posted on: Thu, 03 Jul 2014 17:49:07 +0000
Trending Topics
Recently Viewed Topics
© 2015