CommentsOur leadership has squandered and wasted our treasury and the people's future.
We can't all move to states like Texas, but we can consider buying farm land with water on it in a "right to work" state. At least you will have something under you and not everything lost into thin air.
Posted by Jean on 12/02 at 05:35 PM | #
Don't forget that the charming totalitarian couple, Clinton as SecOfState and Obozo as the Imperial Poobah are well on their way to ensuring that when the brown stuff hits the fan, NO ONE but the Bad Guys, Panthers, scumbags and Mafia will be armed. Lock & Load, buddy.
Posted by TW Childs on 12/01 at 06:19 PM | #
It should be obvious that a "consumer driven" economy can not sustain itself. The politicians have deemed themselves the great arbiters of finance and have done nothing but screw it up. Their policies have driven producers offshore along with the jobs they created. That leaves us with not much more than a bunch of "service related" jobs that are paid for by credit-driven "consumers". The result is a ton of money in the market that has no basis other than red ink on some ledger page. Nothing of value is produced. The process of handing baseless money back and forth will eventually collapse unless our creditors need a lot of yard work or room service.
Posted by CDGuy1 on 12/01 at 04:57 PM | #
The world now must accept our dollar payments as if they were sacrosanct. The world will eventually devalue the dollar and force payments on our massive debt in ever more dollars to cover even the current deficits. To believe that we can continue to spend beyond our income is sheer folly, and if attempted would end with world rejection of the dollar as worth just a fraction of a unit of the new world standard.
Re-election of Pres Obama has put our country's decline in overdrive as he is accountable to no one in government regarding deficit spending and obligations to future payments to new found friendly governments. Even in his first term in office he was not able to get passed an annual budget, not even one in four years. It is unlikely that a Democrat controlled Senate will accept any austerity plan from the House of Representatives, the Constitutional originator of budget legislation. Continued deficit spending, blamed upon Republicans, will lead ever closer to currency failure and financial disaster. We are near the point of no return, and no amount of blather by Democrat Politicians can prevent eventual devaluation. Sadly the people of the USA have no idea what this future would entail. Crime will blossom with no possible containment of masses of criminals.
Our politicians need to be challenged daily by myriad people. I do not expect that to happen as it would interfere with daily life that too many enjoy without fully paying the bill.
Posted by Robert Fanning on 12/01 at 02:35 PM | #
Oh yah but Americans now have free obamacare...oh but wait time 10 hrs in emergency or 10 days for specialist or 10 months to 10 years wait for surgery just like in Ontario!!! Some poor souls die waiting!! Congrats, prez Obama.
Posted by Len on 12/01 at 11:25 AM | #
Social Security and Medicare have always been Ponzi schemes. From the beginning, the government borrowed the money as soon as it was collected and left I.O.U.s in the bank. The government guys bet on the base increasing enough to always cover present liabilities. Wrong move. I've read number crunchers articles that say a 100% tax on all individuals and all corporations wouldn't cover our current deficits. Kinda scary because what we're saying here is the whole system will tank. There is no other option. All the talking in the world is not gonna change the facts. And that fact is; people are going to hurt horribly in the near future.
Posted by P. Long on 12/01 at 11:05 AM | #
When you roll in all of the off-balance sheet liabilities, guarantees (Fannie Mae Freddy Mac and contingent liabilities, I have seen competent analysts' estimates as high as OVER $200 TRILLION!!!!! The attitude of Machine Gun Chuckie Schumer is nothing short of treasonous. The incredible hubris of these people boggles the mind!
Posted by T Childs on 12/01 at 11:03 AM | #
$80 Trillion In Unfunded Liabilities The True Noose Around Our Necks
Posted by Robert Rohlfing on Dec 1, 2012 at 08:40 AM
Economic collapse does not only effect the United States alone but also the world economy as a whole
We hear all about the $16 Trillion dollars in debt that our country is in, but the much larger problem and the one that our politicians and citizens do not want to talk about honestly is the $80 Trillion Dollars in Unfunded Liabilities at the federal level.More...
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