Fiscally Conservative? My @$$
Congress has just approved an $800 billion increase to our debt limit, allowing us to borrow up to $8.2 TRILLION DOLLARS. What does that really mean? Well, for one thing, it means each baby born in the U.S. is immedately in debt for $86,000 to other countries like China, Japan and Saudi Arabia, who hold our debt. Our annual spending has gone UP every year a Bush has been in office, and it doesn't look like they're stopping...
Get the details in this New York Times article.
Wonder if that's why the dollar continues to fall compared to the Euro?
posted by TheAverageMan @ 2:41 PM
2 comments
2 Comments:
Ah yes!! But you also have to remember the great words of wisdom from the noble and all-knowing Great Leader from last year when he so carefully and patiently explained how good it was for your country to be totally in hock to those "poor" nations.
A good thing too, because it is the remedy that has been promoted by international agencies such as World Bank, IMF, and OECD over the past 30 years for countries like NZ and Argentina.
NZ listened for a while, took notice for a while longer, then bailed out. Why? Because we had reached the stage where the country was about to default on repayments on international loans. Argentina did not follow suit and look where they have gotten to.
It has cost us the family silver several times over, cunning sales of the same antiques to different people, to bail us out of the mess. As a result we have gone from about #3 in living standards to #20 in the OECD.
Welcome to the party!!!
BTW, one of the things that I have never ever been able to work out...
Where the F$$$ does all of that money go TO!!What we are told is that it goes "into the economy".
Well, as a bear of small brain, if I see the US spend $1 billion more on "the war in Iraq" then I would expect to see the likes of Rockwell, Boeing, Lockheed Martin, and the rest with their shares going out through the roof. But they don't!
I reckon some 'splainin' is needed. REAL 'splainin. Not just weasel words about how strong the economy is, and that the nation is going ahead at full steam...
I would hate for you to get halfway over the Pacific and then run out of coal in a hurricane. Could get embarrassing...
Post a Comment
<< Home