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Why the U.S. Has Gone Broke

Going into 2008, the United States finds itself in the position of being unable to pay for its own elevated living standards or its wasteful, overly large military establishment. The government no longer even attempts to reduce the ruinous expense of maintaining huge standing armies.

Instead, the Bush administration has put off these costs for future generations to pay or repudiate. This fiscal irresponsibility has been disguised through manipulative financial schemes, but the time of reckoning is fast approaching.

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