The end of America? What do you think?

A famous poem written by T.S. Eliot includes the line, “This is the way the world ends, not with a bang but with a whimper.”  Years later, this may have inspired Soviet premier Nikita Khrushchev(or whoever wrote the quote that is often attributed to him) when he said, “We cannot expect Americans to jump from capitalism to Communism, but we can assist their elected leaders in giving Americans small doses of socialism until they suddenly awake to find they have Communism.”  Whether Khrushchev said it or not, the sentiment is proving accurate.
At dinner recently with a coworker, the discussion turned to the upcoming election.  My friend stated his belief that President Obama would be re-elected and that the second Obama term would seal the fate of the United States, not with the bang of a nuclear holocaust, but with the whimper of an economy that is doomed to collapse under the weight of a bloated federal debt that can no longer be financed or paid off without painful and draconian cuts that are not politically possible.  In short, my friend believes that the United States is about to experience a Greek economic crisis.

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Are Greek-style riots coming to a city near you? (Ggia/Wikimedia)

Tags: debt, economics, economy, federal, federal government, Germany, Greece, hyperinflation, inflation, obama, spending, spending cuts, unemployment