Frontline: Ten Trillion and Counting
As America's national debt surpasses the trillion dollar mark, the producers at Frontline ponder the financial well being of current and future retirees while reflecting on how we got into this mess, and what the Obama administration plans to do about it. Year after year, America closes the gaps in its national budget by selling T-bills and bonds that are guaranteed by the "full faith and credit of the U.S." But the foreigners who frequently purchase these obligations are beginning to grow wary of this system. Now, like the Bush administration before it, the Obama administration has started borrowing big with plans to slash the yearly budget sometime down the road. Anyone can see that this can't go on forever, but the one thing no one can predict is when - or how - it will all end.