International Man: Everyone knows that the US government has been bankrupt for many years. But we thought it might be instructive to see its current cash-flow situation. The US government’s budget is the biggest in the history of the world and is growing at an uncontrollable rate. Below is a chart of the budget for the most recent fiscal year, which had a deficit of nearly $1.7 trillion. Before we get into the specific items in the budget, what is your take on the Big Picture for the US budget? Doug Casey: The biggest expenditure for the US government are so-called entitlements. … Continue reading →

Source: Imminent Bankruptcy of the US Government – LewRockwell