Posted on 07/09/2009 6:15:50 PM PDT by Kaslin
In a recent Wall Street Journal/NBC poll, 49% of Americans said they were concerned a great deal about federal deficits and government involvement in the economy.
In a recent Wall Street Journal/NBC poll, 49% of Americans said they were concerned a great deal about federal deficits and government involvement in the economy.
America's gross government debt is expected to climb from 62% of national income to 106% by 2015 — a level not seen since the aftermath of World War II. Meanwhile, gas price volatility is in full swing.
If Americans are worried by this mounting debt and the cost of energy, imagine how those lending us the money must feel.
Treasury Secretary Tim Geithner likely got a sense when he visited China in early June. China holds $760 billion of the $3.26 trillion in U.S. Treasury securities owned by foreigners, more than any other country. It holds an additional $600 billion in other U.S. government debt.
When Geithner tried to assure an audience at Beijing University that their investments were safe, he was greeted with nervous laughter.
Fiscal Laugh Riot?
There are lots of reasons that laughter matters, but here's a big one: Interest demanded on 10-year bonds went up more than 50% from just over 2% in January to nearly 3.7% at the end of May. That's tens of billions of dollars in added interest that taxpayers will need to repay over the time of those loans.
(Excerpt) Read more at ibdeditorials.com ...
"How many years of retirement should Americans give up to avoid drilling for oil offshore?"Computing the answer to this question is not difficult.
The solution is default and subsequent purging and replacement of leadership and personnel.
In the aftermath of WWII, the US was an industrial power with much of the Asia and Europe economies ruin. Now, we are being led by a socialist who seems intent on crippling whatever economic prowess America has left. Scary indeed.
I’m at a loss as to how this can have a happy ending.
Combine this with the loss of our industrial base, and it’s not a hopeful picture.
If this is a battle between who can do Socialism and Collectivism better...the US or the Chinese...we are about to get our asses kicked up and down the sidewalk for worldwide public amusement.
1800’s was the century of Great Britain even after we beat them and gained independence. 1900’s was the century for America. This is the century for the Chinese. We are choosing to play on their turf. Instead of using our home field advantage of Freedom.
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“A democracy is always temporary in nature; it simply cannot exist as a permanent form of government. A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury. From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy, which is always followed by a dictatorship.
The average age of the worlds greatest civilizations from the beginning of history, has been about 200 years. During those 200 years, these nations always progressed through the following sequence:
From bondage to spiritual faith;
From spiritual faith to great courage;
From courage to liberty;
From liberty to abundance;
From abundance to complacency;
From complacency to apathy;
From apathy to dependence;
From dependence back into bondage.”
——Quote often attributed to Alexander Tyler but it is very debatable. Probably a combination of 17th and 18th century quotes. Whoever said it was a genius.
I can’t believe this is happening to America.
Why don’t we just save a few steps and start printing Chinese money?
A mustache will get us out of debt? Unlikely...
The democrat party has slid into the abyss of socialism and is continuing the slide down to the Marxist level.
The American public has been 'bought off' from paying attention lo these last three decades with the bounty of bread and circuses.
Unless you are being herded by the community organizers directing your vote, the elections are about which candidate will promise the most handouts, and the process is geared now to make payoffs to constituencies via 'earmarks' and community organizers via open appropriations!
Both major political parties use the payoff scheme to seek support, drawing off imaginary money created by borrowing from a non-federal agency known as the Federal Reserve, leaving IOUs with the fantasy promise to repay based upon the full faith and credit of the United States of America.
The voting public lapses into inattentive mode as soon as the swearing ins are completed, until the next scam election, while the commie community organizers remain busy little Marxist bees arranging for the next scheduled scam in two years.
The courts--especially, we found out in '08, the subpreme court--are geared to maintain the federal oligarchic grip on the populace being taxed and herded, and even if a Constitutional issue as simple as presidential candidate eligibility arises, the federal oligarchs can now refuse to grant standing to a usurped member of we the people, so the usurpation is now nearly complete.
Welcome to 21st Century Amerika, comrade serf.
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