US Federal Debt collapses U.S. dollar?« Thread Started on Jun 16, 2007, 11:58pm » --------------------------------------------------------------------------------read at source> http://uncapitalist.com/blog/?itemid=1503Shortly after 9/11, Bush began pumping money into the U.S war machine while simultaneously insisting on tax cuts for the wealthy elite. The net result was massive deficit spending that continues to this day. The national debt has grown to $8.8 trillion. Meanwhile, all Bush can think about is even more defense spending in his attempt to somehow outspend Reagan. Star Wars, missile defense, even the militarization of space are all on the agenda.So what's the effect of all this spending? For one, it could lead to a collapse of the U.S. dollar:United States debt, which had now deepened to well over $3 trillion, might turn out to be unsustainable in the rest of 2007 or next, putting further downward pressure on the United States dollar, Rob Vos, the Director of the Development Policy and Analysis Division of the Department of Economic and Social Affairs (DESA), told correspondents at a Headquarters press conference.Now, this article puts the U.S. debt at $3 trillion. I get my figure of $8.8 trillion from the U.S. National Debt Clock, which is based on U.S Treasury figures. I've heard others argue that the true national debt is closer to $70 trillion.