The socialists thought they had taken over a healthy, cash-flowing going concern in which to construct their workers' paradise. The biggest joke of all is they ended up with a junker - no amount of money will fix the underlying structural problems this country faces.
The last 20 years where all based on credit driven asset inflation ie the FIRE economy. There is nothing to replace it. Not mfg, mining or ag. No money, no government.
The whole thing is going to come down just like the USSR. The first tell is when the respective states begin issuing their own script. Calif experimented with IOUs during 2009. The trend will accelerate during 2010.
Once it takes root for inter-state transaction like paying property taxes, pay state/muni salaries, etc, you'll know the end of the federal government is nearing. Without a shot being fired.
The socialists thought they had taken over a healthy, cash-flowing going concern
The problem is: only a flush, capitalist society can support a 'socialist' contingent (medicare, welfare, etc.) in a manner they're accustomed. When it gets too large, the parasite brings the host down to a level where support is no longer possible.
A socialist society is not possible as it is comprised of only parasites- no host, no producers of anything of value.
The whole thing is going to come down just like the USSR.
It will, when the bloodsuckers have rendered their host hypovolemic. We can only avoid this by infusing new blood in the form of new revenues that can only come from a growing/expanding economy. And nothing this administration appears to be doing is aimed at accomplishing this.