Posted on 05/07/2013 10:50:10 PM PDT by Perseverando
Obama has done it. He has brought America down. It only took him just over four years. The Republicans could have stopped him. They didn’t.
How did the nihilistic left succeed in destroying America? Simple. They learned just a little of the capitalism they hate, and they drove your nation into outright bankruptcy.
And here is what the GOP has to say about it: just about nothing.
The once-mighty United States is now the most indebted nation on Earth. In round numbers, here are just some of the vital statistics as the patient dies:
National debt: $17 trillion, or $50,000 per man, woman and child, or $150,000 per taxpayer. Annual federal deficit: $1 trillion. Medicare/Medicaid/Obama”care”: $1 trillion a year. Social Security: another $1 trillion a year. Defense: two-thirds of a trillion. Unemployment handouts: $2 billion per working day. Debt interest: $1 billion per working day. Federal pensions, ditto.
Now for the big numbers. Your government’s Social Security liability is as big as the national debt: $17 trillion. Its prescription drug liability is $22 trillion. Then there’s the Medicare liability of $86 trillion. Total unfunded liabilities of the U.S. government are $125 trillion.
Net assets for each U.S. citizen are $300,000. The net liability of the U.S. government, shared among its citizens, amounts to almost four times that: $1.1 million a head. And the government’s debt is growing at $1 million every 45 seconds. To cover its annual deficit, it is printing $1 trillion a year of currency that is not backed by any asset whatsoever.
Here is what will happen next. When the crash comes, don’t say you weren’t given fair and clear warning.
First, the dollar will cease – no, make that “is already ceasing” – to be the world’s reserve currency. China, as
(Excerpt) Read more at wnd.com ...
Don't worry, the GM bailout sets precedent for screwing over bond-holders.
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Clinton was terrified of a repeat og 1970s killing his economy so he started with deficit reduction 1993.
In the 1990s and more-so 2000s we had a housing bubble driving phony economy gains and prices rising, but then it crashing brought us deflation as did the EU problems and as does trade.
So the government/Central bank fights deflation with inflation, not a pretty picture for sure.
Rather than these endless apocalyptic scenarios I come to believe that we will never have what we considered in the past a normal recovery.
If real employment was normal we would have inflation which would kill it.
America’s leaders will pay the debt with cash from the American peoples’ savings, checking, 401k and retirement accounts, of course. It’s for the children. They’ll get their cut, naturally.
I think the Chinese are in as much trouble as us—we are Thelma and Louise...going over the cliff together.
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I don’t think so. The chinese are creating the circumstances by which their currency can become a reserve currency. This will enable them to borrow much more than they are currently able to borrow so as to derive growth in their economy not so much from exports but rather from internally generated growth and a consumer economy—much as the US does today.
They’ll need to do this because the next industrial revolution based on advanced robotics and 3d printing will obsolete the outsourcing model. Even now American companies are starting to bring production back to the USA.
What form of growth, here in the U.S., will cause the dollar to go up?
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anemic growth rates like we have this year (of roughly 2%)will still add 200 billion to federal revenues. All that’s needed is for federal spending to be throttled back slightly as is happening this year — for the next four years and deficits will be down to 400 billion by 2016.
At the same time increasing oil production will dramatically slash US trade deficits.
There are few energy independent countries with weak currencies.
Lower federal deficits and lower trade deficits is what pushes up the dollar.
Forgive my ignorance..... where is the oil coming from, I thought Obama closed down domestic oil production?
the big formations in the USA are all on private lands the feds don’t control. The big ramp up in production is happening despite the best efforts of the admin to throttle it.
Big growth in the last several years has come the Baaken/Three Fork formation in North Dakota and Montana as well as the Eagle Ford formation in south Texas. But there are a dozen or more smaller fields around the USA that are ramping up production because of fracking. Some mega oil fields in the permian basin of west texas are expected to come onstream in the next year or two. the field there that’s generating the most buzz — is the cline shale formation.
I am so happy to hear this, and it doesn’t bother me in the least if these guys are making profits hand over fists.
>>‘America the Beautiful’ has been compromised by all those other people of the other Americas countries who have only hatred and disdain for the USA.<<
True and we permitted it to happen. How? By allowing the Progressive communists to build a system that is so well interwoven by socialism that the control the schools, the colleges and all the facets of the media. We allow them to decide which words are politically correct and which aren’t.
We have allowed them to infect our local city and county governments which design budgets that require continual increases thereby raising our taxes until we can’t afford to keep the doors open.
AGENDA: Grinding America Down
There’s a minute and a half promo at the start, but this is a long video you want to send to everyone who isn’t yet convinced. This is the history of the roadmap that was created by the Fabians, the Marxists, the progressives, et al toward the destruction of America. It is on track, and has been successful beyond expectation! This is the video which explains what is in store behind the push for homosexuality being seen as a normal sexual trait and the end of America. Can I say it plainer? Pass it around, if you wish. God bless.
Check your FR mail.
My fears are irreverent - the fact that the US is bankrupt and headed for default, massive economical chaos is irrefutable. Collapse of the US financial system is dead ahead and escalating beyond refutation. Put your head back in the bucket and ignore the facts if you must, but you will pay the price along with the rest of us who know what's coming.
That’s silly. Russia defaulted on their entire national debt in 1998.
You think that they ceased to exist?
this is what I think of when the supposed intelligentsia go after pubs for somehow NOT stopping a commie rat prez, his commie rat AG, his commie rat Senate and his commie rat House...
not to mention the entire DBM in the lap of the most leftist cabal ever seen in this country...
despite all that, somehow those pubs are supposed to stop it all....
its the pubs, never the rats that they complain about....
here it is...ITS THE DAMN RATS THAT HAVE DESTROYED THIS COUNTRY!
yes greysard, that is scary scenario. the funny thing is, people like mark zuckerberg and michael Bloomberg will flee to another country, to ready made citinzenship.as the media in this country will still deny the obvious as to who brought the country down....they will be like andy Griffith in “no time for seargents”
“I caint sees if its a man or a woman, I only see the stripes on the uneeeform”
Not totally, but it's rapidly on it's way...From our standard of living, economy, sovereignty, borders, education, looting foreign policies which loot the American treasure, you name it.
All caused by punitive, intrusive, ever expanding controlling government.
I don’t see it. Our standard of living is up. Technology is better. Medicine is better. Stock market is higher. oil production is up. Natural gas exports are up. Home prices are higher. Our military is more powerful (e.g. laser cannon on a destroyer, expanded missile defenses, drone warfare, X47 drone, X-37 fighter in Space, etc.).
The Immigration bill just failed in the Democratic Senate. The Gun Control Bill already failed there. Numerous states are liberalizing gun rights affirmatively. 0bama is on the ropes after getting caught in multiple scandals.
It’s all good.
You’d have to be unemployed are myopically political to think that things are bad in the U.S. today.
You should work for Obama, he could use you.
So how long have you been unemployed?
So, since you believe most of the private sector middle class America is doing so well in most every aspect, have you thought about working in public relations for the Obama administration?
You missed this part of Post #76: The Immigration bill just failed in the Democratic Senate. The Gun Control Bill already failed there. Numerous states are liberalizing gun rights affirmatively. 0bama is on the ropes after getting caught in multiple scandals.
It’s all good.
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