Just think about it. America has now way to reverse course of expanding the debt without causing a Depression the world has never seen. The debt must now double in size every four years to keep the economy growing at 1%.
So do you think we are in finacial ruin? I say we owe our taxes for the next 10 years and pay 1.5% interest rate on the amount owed. Better yet, i say we eliminate income taxes and we can just print a few extra dollars.