President Barack Obama has racked up such a huge debt that Americans have been forced to concede that even Iranian President Mahmoud Ahmadinejad was right when he warned that America could potentially collapse due to its mounting debt.
Iran's official news agency, IRNA, reported on Thursday Ahmadinejad said America's impending debt would lead to the downfall of the "U.S. empire."
“How long can a government with a $16 trillion foreign debt remain a world power?” Ahmadinejad asked at a press conference with Kuwaiti media personnel, according to The Jerusalem Post. "The Americans have injected their paper wealth into the world economy and today the aftermaths and negative effects of their pseudo-wealth have plagued them.”
Ahmadinejad is known for saying crazy things and making even more insane pronouncements but, unfortunately, his comments about the U.S. debt reflect what many other analysts have concluded.