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For this week's E-Letter, I have chosen to reprint four of the most interesting articles I have read over the last week. The first two articles are from well-known writers that have come to agree with me that we are headed for another financial crisis if President Obama continues his plan to double the national debt over the next decade.

The third article is from Larry Kudlow, well-known economist and host of CNBC's The Kudlow Report, who argues that Obama's latest plan to use TARP money to bail out homeowners who are about to default is just plain wrong and unfair to those lower and middle class families who are working extra hard to make their mortgage payments.

The final article is a column by George Will of ABC News' This Week. As you may know, Obama plans to take up immigration reform very soon, as he is in desperate need of some new voters. George Will makes a brilliant suggestion for how to solve the illegal immigration problem once and for all that I'll bet you haven't thought of.

I will be back to our usual format next week. I hope everyone had a great Easter holiday. I sure did!...

America is headed for another much more serious financial crisis in the coming years. Trillion dollar annual budget deficits are skyrocketing our national debt - now at a record $12.6 trillion - which is on track to more than double over the next decade. Moody's, one of the nation's oldest credit rating firms, warned recently that the US government could lose its triple-A credit rating in a few years if the current runaway spending is not reversed.

Whether the government loses its triple-A credit rating or not, those who buy our trillions in government Treasury securities are becoming increasingly nervous about our ability to make good on those supposedly risk-free obligations. Foreigners own over half of our outstanding national debt. When these creditors decide they no longer trust our commitment to make good on this exploding debt, we will enter a financial and currency crisis that will make 2008 look like a walk in the park.

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Based on the Obama administration's own spending forecasts, the US national debt is projected to double over the next 10 years. Currently at over $11.4 trillion, the national debt is projected to balloon to at least $22.5 trillion over the next 10 years, according to the non-partisan Congressional Budget Office. The CBO now forecasts the fiscal 2009 budget deficit at a record $1.845 trillion alone, with another deficit of $1.4 trillion in fiscal 2010. If our national debt in fact doubles in the next 10 years (and it could more than double), this will be bad news for the US dollar and interest rates, which in turn is bad news for stocks. As you might expect, the liberal media is not talking about these new debt numbers, so I will lay it all out for you this week. Feel free to pass this week's E-Letter on to others - we need to get out the word!...

Since taking office on January 20, President Barack Obama has proposed new government spending of almost $3 trillion dollars. Yes, $3 trillion consisting of his $787 billion "stimulus" package, up to $2 trillion in bank bailouts proposed by Treasury Secretary Geithner earlier this month, and another $275 billion for homeowners and mortgage companies that Obama announced last week. The question is, who is going to buy this gargantuan amount of US Treasury debt over the next few years? With the global recession, the largest foreign buyers of Treasuries, like China, Japan and Europe, may not be in a position to keep buying our debt. It now appears the US Federal Reserve will be called upon as the "lender of last resort," but the Fed will be forced to print these trillions in new money. That could trigger another round of big inflation (hyperinflation, some predict) in the coming years. This week, I will explore the implications of this record spending and borrowing. Be warned that what follows is not pretty, but it is what it is. The latest plunge in the stock markets is indicative of just how precarious the situation is. As investors, we need to understand what is happening and how to react to it. Let's get started....