Ignoring Facts - MAJOR Financial Crisis Looms in America

The causes that led to the financial crisis of 2008 were right in front of us but ignored. Government sponsored Freddie Mac, Fannie Mae, and Ginnie Mae home loans began to increase the number of sub prime mortgages to alarming levels, up to 55% in 2007. The Wall Street large banks were riding high, making a ton of money on high yields on "mortgage backed securities" / bonds and yet no one wanted to look underneath as sub prime mortgages rose from $30 billion in the mid 1990's to $625 billion in 2005. It was only a matter of time when the whole bottom would fall out and it did in 2007 - 08. Many of these sub prime mortgages were not only very high risk, but it was known that those who received them could not afford to pay them; irresponsibly this was ignored. The economic crisis that resulted was more than just due to the sub prime mortgages, but this was a prime mover in the financial crisis of 2008.

We now have a major, an even bigger financial crisis looming. Our national debt is now a whopping $19.3 trillion. According to Treasury Direct our FY 2015 annual interest was over $402 billion or $1.1 billion per day. Erskine Bowles, Co-Chair of the bipartisan Deficit Reduction Commission, has indicated that our annual interest alone will reach $1 trillion per year by 2020. The Congressional Budget Office has indicated that we will pay out $5 trillion in interest payments over the next decade. Or national debt is out of control and increasing $2.48 billion per day.

Not only is this certain crisis being ignored, spending continues out of control at all levels of government. Our federal government and both parties of Congress don't have the guts to deal with this major crisis...politics and votes rule, not doing what is best for America. Money continues to be printed with no solid financial underpinnings.

A total financial collapse of American is imminent. A domino affect with occur since states and in turn cities / local municipalities, who are all very dependent upon federal money, will no longer get it. The American people will be in dire straits, and our national security will the greatly threatened.

I urge people to just look at the facts. All the information and warning signs are right there in front of you. NOW is the time to speak up and act...the situation is urgent. Our country and our country's future depends upon YOU.