Skip to comments.America's coming financial catastrophe: ...Washington won't discipline itself unless we demand it
Posted on 11/29/2012 4:01:20 AM PST by Perseverando
Do you want to understand the magnitude and imminence of Americas financial calamity?
Ive written hundreds of thousands of words about it over the years, but an accountant, Hal Mason, has prepared a five-and-a-half-minute YouTube video that does a pretty good job of bringing it all home simply and starkly.
I advise every American to take a few minutes to view it if you want to understand why Washington is plunging off the fiscal cliff, even while the Democratic and Republican establishment talk about averting it.
All one really needs to do is view the 2013 budget from a high level. Dont worry about the details. Just take a peek from 30,000 feet to see the crisis.
The budget is 3.8 trillion.
Projected revenues are $2.5 trillion.
That leaves a $1.3 trillion deficit.
The deficit will be borrowed on top of more than $16 trillion in existing debt.
Its a fait accompli unless Americans awaken to this scam and stop it. Were no more than weeks away from action by Congress including the Republican House to raise the debt limit again to permit this insanity to continue.
Take a look at the projections for spending and borrowing in the years to come. There is no end to it. The budget just keeps on growing, sustained by endless borrowing. In a few years, were headed to debt exceeding 26 trillion.
Republicans say theyre against it. And they have the power to stop it. But they keep on raising the debt limit, which simply postpones the day of reckoning and the kind of catastrophe we see in Greece, where the people are burning down banks with citizens inside.
As Mason points out, the projected revenues next year
(Excerpt) Read more at wnd.com ...
and why does this bring a vision of bawney fwank and sadomasochism with a dominatrix to mind, oh wait he wouldn’t get any joy out of that. with big ears.
Who’s we, Paleface?
Obama’s not interested in making sense; he’s only interested in what his constituents have to say, and let’s face it - his constituents say, “Tax the sh*t out of Whitey and give it all to us!”
Don’t even try to make sense out of Obama’s actions, because sense is utterly irrelevant.
———Do you want to understand the magnitude and imminence ——
Perhaps not both, totally........ but
Politicians can’t act. They can only react.
The calamity must occur before it can be remedied.
The disaster of Obama has not been realized
But it’s the holidays, plus NFL..... The rulers will do whatever they want over the next month and nobody will notice. They’ll just bitch later about evil Republicans and Jewish banksters. Seriously.
Try suggesting to a “conservative” that they boycott selectively, tell them not to shop at Christmas. I’ve been told on this site that postings I’ve made suggesting the IRS or Post Office be crippled with simple actions are wrong because they will cost more money and constitute “waste, fraud & abuse”. The NYT is a target for action, they are on the edge, a boycott of their top sponsers could tumble them.
Some think if they just sign another meaningless petition it matters. Or they want to skew results of dumb media polls. That is all the action they can muster. Until the TV stops working people will just ride the slow decline down and do nothing but carp.
“Weve got to demand it.”
Amen, conservatives, even on this site, DEMAND IT!!
...as long as the spending being reduced is someone else’s welfare. But mention the welfare programs for today’s older people (Social Security and Medicare), even here, and they’ll scream their heads off when anyone wants to “touch it” (i.e., means test).
Yes, cutting spending is JUST FINE, as long as it’s someone else’s spending. And don’t give me that line about it being your money that you paid into - that money is long-gone, it’s my kids’ money we’re talking about now - you guys (and the generations prior) voted in governments to spend the money as it came in - it’s ALL GONE, plus $16T.
Bottom-line - I’m all for raising taxes on the MIDDLE CLASS, and lower classes - since there is NO WAY that even conservatives will tolerate spending cuts in their welfare programs - and the money is in those classes (i.e., not enough ‘rich’ to go around).
So we might as well suck it up and start paying for them real-time, or there will not even be a country left to live in (i.e., Argentina anyone?). My suggestions are as follows:
1) Let the Bush Tax Cuts expire, all of them.
2) Increase the gasoline tax by $2.00 per gallon (for starters)
3) Initiate a Value-Added Tax of 10% (national sales tax)
4) End most of the loopholes in the federal income tax system, particularly the one that actually encourages debt (i.e., the mortgage interest deduction - I still can’t believe that we have that)
Doing all of the above will pretty much give the government what it needs to provide its goodies both to the poor and to the older conservatives on this site. As for encouraging even more spending - that is a risk, but the best way to stop that is to simply elect conservatives that won’t start new programs.
We demand... they ignore.
That's exactly what he meant during the campaign when he used the word "Revenge".
"Washington" is simply the perfected reflection of what "we" demand.
The current end of days fiscal and monetary disaster is not happening AGAINST what "we" want, it is happening BECAUSE of what "we" want.
Democracy is the root of the problem.
“Washington won’t discipline itself unless we demand it”
I’ll continue to believe what Palin said which is that if Washington doesn’t get its finances in order, someone else will do it for us.
Citizens as a whole haven’t demanded discipline.
You can scream about numbers all you want and it will make no difference. The fact is nothing will change unless there are no alternatives. If there is any way to kick the can down the road they will do it even if they know it is futile. Human nature is that there is no painful change while alternatives exist. The system has to collapse before it can be fixed.
Answer: We will ALL go down with the ship. I’m convinced at this point the problem won’t get solved until the System collapses from its own weight. Its clear that the Dems are doing all they can to grab more power by handing out MORE goodies to newly minted clients. And its working. And, frankly, it might keep working for quite a while. Interest rates are near zero, so that drives the interest on debt lower. Real people/banks/countries don’t even have to buy our debt anymore—the Federal Reserve can (with $$ printed out of thin air). If we have an oil boom in the USA, that might delay the inevitable.
Even so, we are well past the tipping point (which was probably 2008). When the System does go bust, it will be absolute chaos to rival the fall of the Roman Empire. Politicians will do whatever they can to delay that day of reckoning.