The 2004 Treasury Report states that the U.S. govt will owe $44 trillion by 2008 and if income taxes are not raised by 60% the govt will not be able to pay its bills, debt! The baby boomers will be retiring soon and they will be getting Social Security checks and Medicare costs will skyrocket! It will be too much for the govt to handle. Look it up! Right from the horses mouth! The report was also withheld and shelved so Aamericans and other countries would ‘not find out’ just how deeply in debt the US govt really is! But luckily the report was released! There will be a 2nd Great Depression soon! Unemployment is at a 9 year high of 6.1%, and long term unemployment is at a 20 year high! Weekly work hours are posted on Bloomburg and its less than 40 hours, its 34 to 37 hours! Not even full time! Tax revenues are down because of this! But spending is up!