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“Are we still a capitalist democracy or have we gone over into an oligarchic form of society in which incredible economic and political power now rests with the billionaire class?”
Fed Chair: ‘Deficits Will Rise to Unsustainable Levels’
federal government’s debt held by the public would rise from $11.983 trillion at the end of fiscal 2013 to $20.947 trillion by the end of 2024.
I’m worried about a crisis bigger than 2008: Faber
GAAP-Based Federal Budget Deficit Hit Record $6.6 Trillion in 2012
Sources:
http://cnsnews.com/news/article/susan-jones/fed-chair-unsure-if-capitalism-or-oligarchy-describes-us
http://www.cnsnews.com/news/article/terence-p-jeffrey/fed-chair-deficits-will-rise-unsustainable-levels
http://www.cnbc.com/id/101654131
http://www.shadowstats.com/article/no-500-special-commentary-us-government-gaap-based-2012-financial-data
http://cnsnews.com/mrctv-blog/craig-bannister/obama-raising-debt-ceilingdoes-not-increase-our-debt-though-it-has-over