I haven't got the time to take apart all these doom and gloom set-ups, but there are gaping holes in all of these 'predictions' if you just stop and think about them.

If you are looking for a history lesson then look back to the 1960's. Not because of what happend but because of what did not.

Everything predicted here was foretold then. It was all going to take place soon unless, suprise suprise, the Republicans were elected forever and forever.

I am old enough to remember when Whale Oil still had a market. Then we ran out of Whales and that was going to be the end of automatic transmissions. (ATF contained a lot of Whale Oil.) Somehow we all survived that and we will all survive this.

The world did not come to an end in 1972, but things started to look very bleak just before the 1976 Presidential election. Then Carter was elected and, wouldn't you just know it, the end of the world was coming again. Then in 1980 Reagan was elected and all of a sudden everything was looking up again.

That lasted for a whole two years. Then the US had a big recession and very high unemployment. Still... there were no predictions of gloom and doom. Everything was wonderful until about 1987 when another election was coming up. Then, without warning, things looked bad again.

Does anyone else see a pattern here?

As far as national debt and government spending as a percentage of GDP... We are just about where we were after WW II, and that makes sense due to the fact that we have been fighting two wars for the last eight years. The US pulled out of that debt, and we will pull out of this one.

For further reading on these types of economic predictions I would recommend 'Chicken Little'.