Former Treasury official: Nation's liability growing to unmanageable levels
© 2009 WorldNetDaily
A former State Department official is warning that U.S. national debt is growing to unmanageable levels, Jerome Corsi's Red Alert reports.
C. Fred Bergsten, former assistant secretary of international affairs for the Treasury, sounded the alarm that dollar deficits may not be funded for long by foreign nations, including China, in the Nov./Dec. 2009 issue of the Council on Foreign Relations "Foreign Affairs" magazine.
By 2030, Bergsten anticipates the net foreign debt of the United States will exceed $50 trillion, or 140 percent of gross domestic product. More…