Watch this CNN video of Pete Peterson, the former Secretary of Commerce, as he discusses America's lack of savings and dependence on borrowed money that has made the country vulnerable..
http://www.youtube.com/watch?v=lowq9vm412U&mode=related&search=
We are presently spending more than we earn and borrowing more than we can ever pay back, which is totally irresponsible and calls for major changes to our economic policies.
If our debt lenders decide to pull the loans that in recent years have been the primary support of our economy, we will have a black day in our markets and economy that will surpass anything previously experienced in America.
Without these loans, our ability to function as a society will grind to a halt and our future standard of living will dramatically decline.
It is time for us as Americans to demand that our leaders adopt a platform of fiscal and common sense policies to reduce our deficits, implement mandatory savings (like Peterson suggested) and reinvigorate American industry.
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