The United States, through a failure to manage its money properly, has squandered the capital accumulated for the past and accumulated unsustainable debt that will enslave its children. People like David Walker, former head of the US Government Accounting Office (GAO) have long been sounding alarms as in the video below. However, our political leaders are violating basic economic principles as a result of improper legal structures that provide improper motivations, and a lack of general competency and inadequate public awareness.
Since this video was made, the problems Walker was talking about have only escalated because laws that require operating within the bounds of sound economic principles have not been passed and out-of-control spending by those in power continues at the expense of the next generation. This is the moral equivalent of selling your children into slavery or prostitution.
