The USA is in deep deep Shit... Mismanagement for decades has caused it
You cannot just keep borrowing and never pay it back, it just doesnt work.. When all the lenders call in their cash, the worlds economies will just collapse.
http://www.theage.com.au/business/world-business/obama-unveils-us447b-jobs-package-20110909-1k0ji.html
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Update President Barack Obama said the United States faces a "national crisis" and pressed Congress to urgently pass a jobs package of tax cuts and government spending he is proposing to revive the stalled economy.
The cost of Obama's plan is $US447 billion ($420 billion), with proposed tax cuts amounting to $US245 billion, or just over half of that total.
Read more: http://www.theage.com.au/business/world-business/obama-unveils-us447b-jobs-package-20110909-1k0ji.html#ixzz1XPPIFJEx