'WHY IS AMERICA BROKE?' eBooklet Reveals in Everyday Language the Shocking Truth Behind the Government Debt Crisis

CHARLOTTESVILLE, Va., Aug. 30, 2011 /PRNewswire-USNewswire/ -- The US government's $14.5 TRILLION debt crisis is all over the news. What does it mean and how did we get there? The answers will shock you.

This easy-to-understand, 13-page, $0.99 eBooklet on Kindle and Nook explains in everyday language where the government gets its income, how it is spent, and why the national debt is completely out of control:

• The US government has spent more than it has earned for 36 of the past 40 years.
• The resulting annual deficits have been paid for by borrowing against America's future.
• The government spends its ENTIRE income on mandatory entitlements such as Social Security, Medicare, and interest on the debt.
• The ENTIRE cost of running the government -- including the Defense Department -- must be borrowed.
• The government has spent the entire $4.5 TRILLION held by the Social Security and Medicare Trust Funds -- money we contributed from our paychecks all our lives.
• Individual taxpayers contribute 91% of the US government's annual income, and corporations pay only 9%.

"When I researched the truth about the government's debt crisis," said author Wayne Josephson, "I was stunned and speechless by what I learned. In this 13-page, easy-to-read eBooklet, I have drawn on my twenty years of experience on Wall Street to explain in everyday language how severe the problem is, and suggest ways to fix it.

"America must rein in its spending, or the national debt will spiral out of control and begin to negatively impact our standard of living. The solution will be painful, but the US government must take action immediately to balance the budget and generate a surplus each year in order to pay down the national debt.

"Even if the government somehow saved $1 TRILLION each year, it would still take nearly 15 years to pay off the national debt. But we must begin now."

The eBooklet "Why Is America Broke?" is available for $0.99 at Amazon's KINDLE and Barnes and Noble's NOOK. Free sample pages and reading apps can be downloaded on PC, Mac, iPad, iPhone, Android, and BlackBerry.

About the Author

Wayne Josephson is a former Senior Vice President of Fitch Investors Service, the bond rating agency, and a former investment banker at Merrill Lynch.

Media Contact:

For complimentary review copies and requests for author interviews, please contact:

Wayne Josephson
434-227-2727
[email protected]

This press release was issued through eReleases(R).  For more information, visit eReleases Press Release Distribution at http://www.ereleases.com.

SOURCE Wayne Josephson