Bailouts for Everyone, But Who's Going to Rescue Uncle Sam?

via yahoo ^ | Jul 03, 2009 09:00am EDT | by Aaron Task

[BenLurkin]

The U.S. has been on an "unsustainable cycle of buying and spending" that cuts across all strata of society, says TJ Marta, chief strategist at MartaontheMarkets.com.

The problem is that with everyone having a hand out -- from illegal immigrants to Wall Street to state and local governments -- the Federal government has now extended itself to the limits of its ability, and perhaps beyond.

Marta sees only two entities with the ability to bail out Uncle Sam - "savings glut countries" like China and the Federal Reserve, a private organization

...

Most Americans are already reining in their spending, which is a start. But Marta says the Obama administration and Congress must veer off their current deficit-laden course, or America's financial future will not be very pretty.

[Ev Reeman]

Obummer has his hand out to the American people for more of their money.

I say we should bite it off.

[GonzoGOP]

Obama administration and Congress must veer off their current deficit-laden course, or America's financial future will not be very pretty

It is already too late. Interest on the debt alone in conjunction with the entitlement programs will render America insolvent. The only hope would be explosive economic growth. However with high taxes, rule by the UAW and crushing environmental regulation they will be lucky to simply stop economic collapse much less get any growth.

[Ghost of Philip Marlowe]

Who’s going to rescue Uncle Sam?

Why the World Bank and the IMF, of course.

All we have to do is kill the dollar and then drop it as our currency and sign on to a global currency whose monetary policy is determined by the World Bank or IMF or some other global, central bank.

It’ll be great. The same policies of the Federal Reserve that got us into this mess will be applied to scores of nations at the global level.

[Mr. Jeeves]

Q: "Bailouts for Everyone, But Who's Going to Rescue Uncle Sam the American Taxpayer?"

A: No one.

[GladesGuru]

“Rescuing” the Federal gooberment is an easy task. Cut all Federal employee rolls (excluding defense) by 33% this year, 33% the next year, then let the taxpayers vote in 2010.

Problem solved.

[B.O. Plenty]

.....But Who's Going to Rescue Uncle Sam?

General Petreaus:

Lead by example as demonstrated elsewhere, sir.

You swore and oath to protect and defend the Consitiution from all enemies, foreign and domestic.

I submit that domestic enemies are at the door....and are tearing up the Constitution as we speak.

The power to resolve this attack on our Country peacefully before it is too late rests in your hands.