XML FeedsSimple fiscal math spells “Big Trouble” for Americans
By P Alfonso on Dec 25, 2009 | In 1.5 The Economy | Send feedback »
If you were to pick and choose the good news that the media reports about the U.S. economy, you could clearly see that it is on the way to recovery and the recession has ended. These forecasters are a new breed of economists who unscrupulously have invented what we could refer to as Pinochionomics. Their economic forecasts and reports are nothing more than lies stacked up upon lies. On the other hand, if you look for indicators of an economical disaster looming in the near future, you will be able to find plenty of them.
Putting aside the ailments of our economy private sector and just concentrating on the fiscal condition of our government it should not be difficult to see that it is on life support. Our government’s health is under the care of the same people that just passed the Health Care bill. This bill is designed among other things to eventually replace Medicare and Medicaid although they would not dare tell you. Our government cannot continue to operate at a 50% deficit for much longer and at some point, it will become unmanageable.
The meaning of the value of money has become murky with the spending of hundreds of billions and trillions. The perspective of the magnitude of the government’s debt and deficit seems to go beyond the comprehension of most of our citizens. Not counting the tens of trillions that our government has of unfunded debt, we have once again reached our approved debt ceiling of $12.1 trillion.
Our elected unrepresentative leaders are requesting another $1.8 trillion in debt which they hope will last until shortly after the 2010 elections. That would raise the debt from $12.1 trillion to $13.9 trillion, conveniently just below $14 trillion. This addition of debt is still been debated but since our government will run out of money before the end of this year they have passed an emergency increase of $290 billion which they hope will last until mid February. If you want to know how much $290 billion is in a less abstract manner, it is equivalent to giving 15 million Americans a brand new Ford Fusion Hybrid capable of getting 41 MPG. If we were to do the math with the $1.8 trillion that they have requested then you come roughly ten million short of giving every household in America one of of them. And of course bear in mind that this is only to satisfy their thirst of borrowing for just one more year.
In summary don’t be fooled by the Pinochionomists, they are lying and what our government is trying to do cannot be sustained much longer. Visit Wikipedia and read about the collapse of the Soviet Empire as nearly thirty years later we appear to be next in line. Visit the link and have a better understanding of where our nation is heading.
With the worthless trillions that the Fed has printed to keep the banking system from collapsing, they could have bought the debt of the American public and set them free. To the contrary, they have set up a chain of events that will destroy the wealth of the middle and upper middle class and keep them enslaved forever via taxation and porverty.
Wouldn't you rather have one of these with your money?
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