Congress has allowed legislation allowing the national debt to rise to unprecedented levels.
- By John March
A rapidly rising U.S. national debt is one reason to consider gold investment coins as an investment option, especially in light of a recent congressional vote.
On Thursday, the Senate voted to allow the government to rack up an additional $1.9 trillion in debt, which appears to position it to have a $14.3 trillion debt, up from one that is currently in the $12 trillion neighborhood. Open a Gold IRA Today!
An Associated Press report noted that the measure barely passed, with all 60 Democrats currently in the Senate voting for it, and that the current debt level amounts to about $45,000 per every American. The wire service also added that by voting for such a large debt increase, members of Congress will now not have to deal with the issue again until after the November election has passed.
As the national debt increases, the cost of financing it has also continued to grow at an alarming rate as well, fueling concern that at some point, the U.S. government could be forced to default on its obligations.
If such a scenario does emerge in the future, people who have invested in precious metals like gold and silver may find themselves well positioned to ride out the ensuing economic consequences.
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Contact The Superior Gold Group and learn how to get on the gold standard at www.gold101.com or Call (888) 374-4032.
Tags: gold101, john march, national debt
March 1st, 2010 at 10:21 am
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