Financial advisor Dennis Tubbergen believes some members of Congress may be ready to put debt at the top of U.S. agenda.

Grand Rapids, MI -- (SBWire) -- 01/03/2011 -- Noted financial advisor Dennis Tubbergen frequently discusses the current state of the U.S. and world economies in his financial blog and his monthly newsletter, Moving Markets™. Tubbergen has been stating for months that the U.S. needs to cut spending and attend to our debt before the economy can truly recover. Recent news out of Washington, D.C. points to members of Congress waking up to that fact as well.

A December 20, 2010 article on Bloomberg.com states Senators Mark Warner and Saxby Chambliss “will seek to put the U.S. debt atop the agenda in next year’s Congress.” While President Obama’s debt reduction panel failed to garner enough support in December to get its recommendations sent to Congress, Warner and Chambliss hope to take the panel’s work and use it as the building blocks for some major government spending changes.

According to Tubbergen, such actions are desperately needed. The Michigan-based financial advisor claims more borrowing against future production will only compound the excessive debt problem in the U.S.

Tubbergen, who is CEO of USA Wealth Management, LLC, a federally registered investment advisory company, believes excessive debt is the major reason for the economic mess we now find ourselves in and offers his opinions in his economic blog and monthly newsletter Moving Markets™. In a recent newsletter, Tubbergen asked us to think about the ultimate price that we Americans will have to eventually pay for the runaway federal spending now taking place.

Tubbergen feels the U.S. must face its economic realities, whatever they may be.

“The more out of control that U.S. spending becomes, the more likely it is that higher interest rates will be needed to attract investors who are willing to take on U.S. debt,” forecasts Tubbergen. “While the U.S. Dollar has rebounded of late against other major world currencies, the long-term trend is still down in my opinion. While I expect a rebound here, I don’t believe it will be sustainable.”

The bottom line? “We need to get government spending under control,” concludes Tubbergen.

The opinions expressed herein are those of the writer and not necessarily those of USA Wealth Management, LLC. This update may contain forward-looking statements, including, but not limited to, statements as to future events that involve various risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual events or results to differ materially from those that were forecasted. Therefore, no forecast should be construed as a guarantee.

Investing in securities involves a risk of principal loss. Prior to making any investment decision, individuals should consult a professional to determine the risks, costs, benefits and fees associated with a particular investment. Information obtained from third party resources is believed to be reliable but the accuracy cannot be guaranteed.