Did you listen to Rush today?
He actually gave major credence to the imminent financial collapse of America. Pulled no punches except for the implication that getting 0bama out of there will avoid the crash.
YES..I heard Rush today! Was a little shocked...
Though he sometimes gets on my nerves it just goes to show how far ahead of the curve Glenn Beck is. Even ahead of the great “ Maha-Rushi”.
This central bank printing press policy cannot continue forever. The merry-go-round will stop with a thud soon. Trillion dollar deficits cannot be sustained. Operating the US government WITHOUT a budget is insane.
Financially, it truly is all over for the US if Obama is re-elected. The government will go bankrupt, the dollar will become worthless.
“Did you listen to Rush today? He actually gave major credence to the imminent financial collapse of America.”
It HAS to happen. We cannot get away with trillion dollar deficits for very long. There is a level that we can sustain, which works out to having a deficit that roughly equals the interest costs on our existing debt - in other words, if our debt only increases by the rate of inflation, and is not too high, it’s manageable.
But we are far beyond that. Rush has run the same numbers - we may ‘seem’ fine right now with a ‘strong’ dollar, but the vultures will strike, they ALWAYS do, as Greece found out (and Spain is finding out). We have some options, such as nationalizing 401k’s and private pensions, but even that is limited, as we’ll wipe out that money in less than a decade (maybe much less). This trajectory CANNOT be sustained.
...and because of that, I would just LOVE to see the entire Bush tax cuts expire. For two reasons: First it makes the lower classes and middle classes start paying taxes again, and second, it clears his name - in that the Dems have ALWAYS called it a “tax cut for the rich”. As much as I wished that was the case (as tax cuts for ‘the rich’ always help economic growth), the rich were an afterthought - it was mainly a lower and middle class tax cut.
The Dems know that - although I doubt the Republican leadership has enough intelligence to also know that. But the Dems will DO ANYTHING to not let those tax cuts expire for the lower and middle classes, because that will expose them (and the media) as frauds. But they should expire, because the REAL MONEY is in those classes (including the upper middle class). Once we hit those bad-boys up, we will start getting closer to real deficit reduction.
Of course the other option is to cut government spending, but even the old people here still insist on their cut of Old Age Welfare (sometimes called Social Security), so that option isn’t going anywhere.