8 Facts That Prove Our Govt. Is Not Going Broke

By Les Leopold

October 8, 2012  |  Pete Peterson, the billionaire former private equity mogul, is quietly funding a noisy bus tour [3] to whip up debt hysteria across the land. The “Ten Million a Minute Tour” headed by the Peterson Foundation’s former CEO, David M. Walker (and featuring such economic soothsayers as Alan Greenspan and Ross Perot) will end this week in Washington, DC after traveling coast to coast to alert America about the myriad of alleged dangers posed by government debt and deficits.

Really, it should be called the “Million an Hour” cavalcade because that’s about how much Peterson and company made, in part, through obscene tax loopholes designed for private equity firms and hedge funds. If there really is a debt problem, then Peterson and his fellow tax-evading financial moguls have contributed mightily to it.

But America does not face a debt crisis. Nor are we likely to face one in the next 100 years. In fact, we are the last country on Earth that needs to worry about its public debt.