Brace Yourselves

Make no mistake about it: the central economic problem facing the United States is out-of-control federal spending and the massive federal debt that continues to pile up. As welfare-state and warfare-state spending has continued to soar for the past seven years, U.S. officials have gone on a massive borrowing spree. Since 2000, the national debt has almost doubled from $5.67 trillion to $9 trillion.

It is out-of-control federal spending, and the massive borrowing that has accompanied it, that is at the core of the mortgage crisis. How could sucking all that money out of the capital markets to finance federal expenditures not have an effect on the availability of private capital in the home-loan market?

It is out-of-control federal spending, and the Federal Reserve policy that is accommodating it, that is at the core of the dollar crisis. How could the printing of money to pay off the debt not have an adverse effect on the value of the dollar?

Imagine the following scenario in your family. For the past 10 years, your family