Get ready for some high-octane nightmare fuel!
The warning in the title comes from Mark Steyn, who has repeatedly expounded upon the perils of sovereign debt. We owe so much that the entire planet does, indeed, have a serious problem.
As if all that were not enough, the oft-quoted figure of $16 trillion federal debt is deeply understated because it does not include the unfunded Medicare, Medicare Prescription Drug Program, Social Security, military and civil servant pensions that the federal government has promised to provide. The total is beyond anything we can imagine without some innovative graphical visualizations.
Oh, and by the way…
The above visualization does not even include the horrific levels of state and local governmental debt, as well as unfunded pension liabilities at the state and local level, not to mention the private sector.
I have never claimed to be a prophet. That said, I had some horrifically high fevers as a small child, and they produced some of the worst dreams anyone can have. I remember one of them. Through no actions of my own, I owed an exponentially increasing amount of money. As the debt rocketed toward infinity, an angry mob pressed ever closer, clamoring for the money and struggling to get its hands on me.
I never found out what happened after that…