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To: expat_panama
The U.S. is not technically presently in bankruptcy as it has not failed to meet the demand of its creditors to make promised payments, yet.

The portents in the direction of eventual fiscal collapse, if nothing is changed in regard current programs and the spendthrift behaviours of Congress, are not encouraging.

This is not the fault of government as government does that which comes naturally to it, grow and become more burdensome.

The fault, where such can be attributed, must be laid directly at the doorstep of the American people. For only the electorate are, in the ultimate analysis. those responsible for final oversight of what this nation's Republic becomes.

The condition upon which God hath given liberty to man is eternal vigilance; which condition if he break, servitude is at once the consequence of his crime and the punishment of his guilt."
-John Philpot Curran: Speech upon the Right of Election, 1790. (Speeches. Dublin, 1808.)
http://www.heartland.org/Article.cfm?artId=10714

Can the liberties of a nation be thought secure when we have removed their only firm basis, a conviction in the minds of the people that these liberties are a gift of God? Indeed I tremble for my country when I reflect that God is just; that His justice cannot sleep forever.
Thomas Jefferson
Notes on the State of Virginia (1781-1785) Query 18

“A general dissolution of principles and manners will more surely overthrow the liberties of America than the whole force of the common enemy. While the people are virtuous they cannot be subdued; but when once they lose their virtue they will be ready to surrender their liberties to the first external or internal invader.”
--- Samuel Adams


240 posted on 07/13/2006 10:32:07 AM PDT by ancient_geezer (Don't reform it, Replace it.)
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To: ancient_geezer
We're on the same page then with America not being in bankruptcy of the "technical" nature.  I'm not sure what other kinds of bankruptcy there are.  I sure disagree with the idiots that say America morally bankrupt and the way they harangue about the faults of the American people.   

Americans are good, strong and successful.   About this notion that the US is going in the "direction of eventual fiscal collapse", maybe we could agree that the wording should be "possible--" or "risk of fiscal collapse".  No way in hell should we ever just through up our hands and say a collapse is inevitable.   We are not doomed.

242 posted on 07/13/2006 11:02:02 AM PDT by expat_panama
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