Just so you know:
"As the Obama administration pushes through Congress its $800 billion deficit-spending economic stimulus plan, the American public is largely unaware that the true deficit of the federal government already is measured in trillions of dollars, and in fact its $65.5 trillion in total obligations exceeds the gross domestic product of the world."
Note. Not the GDP of the United States. The GDP of THE WORLD.
Yep. That's the Congress in action, folks. That's what Government does for you.
Are you feeling rich, have you gotten your money's worth. You're debt is as high as the moon. What, exactly do you have to show for it?
A 450 inch flat screen TV? A new Hummer? A mansion on the hill with an indoor swimming pool and jacuzi, a bowling alley, basketball court and shooting range.
Shouldn't we all have at least that much if we all owe, collectively, a debt the size of the GDP OF THE ENTIRE WORLD?
Just sayin'
I think it might be time to call the note. Go bankrupt. Abolish the Federal Government...and the State governments for the most part. And start again.
I don't see any other way out of this mess. It's all fantasy anyway. It's not like we could ever catch up. We'll be paying with dollars printed on butcher paper, worth more as toilet paper than as currency. So that's not really a solution. The government has made sure our manufacturing base is crippled, so we can't "produce" our way out of it by increasing American GDP so that actual prosperity happens ever again. So that's not really a solution.
The government can't even tax their way out of it. If they instituted 100% taxes on all income. In other words, just confiscated all income...they still wouldn't have enough.
The whole thing is a house of cards—big, granite cards the size of Stonehenge—but cards as unsteady and unstable as any standard deck. I'm not sure what kind of cover will protect us when it crashes, except preparing for Mad Max's post apocalyptic world: gun up, horde ammo and fuel, and maybe shave your head.
The Gunslinger
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