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The Looming Dangers of American Debt

June 7, 2006  •  From theTrumpet.com
America has become a nation of debtors. Increasingly, that debt is held by foreign nations—some of which are enemies.
 

What does the term serf bring to mind? Poor, indebted, landless, forced labor—perhaps even medieval. Shockingly, serfdom is a reality many Americans may face in the future. Here is why.

The U.S. national debt now stands at more than $8.3 trillion, of which more than $2 trillion is owned by foreigners. Since 2000, the percentage of U.S. public debt owed to foreigners has doubled.

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