Our Massive Debt Is a Threat to National Security—or, How the End May Come

Posted by Chuck DeVore

“Endless money forms the sinews of war.” – Marcus Tullius Cicero – 44 B.C.

I’m normally not given to pessimism about America—we are a strong people in a rich land—but our political class has set the foundation for disaster. The Federal debt stands at $13.4 trillion with another $110 trillion in unfunded Medicare and Social Security liabilities.

The People’s Republic of China now holds about $850 billion in U.S. Treasury bonds, most of it quietly moved over the past few months into notes maturing in less than a year.

The ability of a nation to borrow and to finance its debt and other obligations, such a maintaining its defenses or fighting a war, is as much based on trust—the expectation that one will be paid back—as it is based on economic prowess.

What might the end of history’s greatest democratic republic look like?

Go here to find out…