U.S. Is heading for bankruptcy

David Walker, Head of the U.S. Government Accountability Office (GAO) says that the U.S. economy is unsustainable. He points out that as the baby boomer generation begins to retire medicaid will destroy the economy. The U.S. has made promises they cannot keep and have written checks for the future needs that can't be cashed. Federal Reserve Chairman Ben Bernake validated the issues and also ranking republicans and democrats.





[edit on 6-7-2008 by brickhouse32]

Grumble Grumble Grumble.

Seems like noone cares about the financial well being of the country when the head of the GAO is very concerned. hum. Maybe I should have written a thread about eating dinosaurs.

Originally posted by brickhouse32
Seems like noone cares about the financial well being of the country when the head of the GAO is very concerned. hum. Maybe I should have written a thread about eating dinosaurs.

I think some people are getting sick and tired of "Doom and Gloom" here and are reading other posts for "Entertainment". So yes Gas prices are effecting some people.

The US has been on that path since 1913.

I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
Thomas Jefferson, Letter to the Secretary of the Treasury Albert Gallatin (1802)

yeah, and the upper 1% in this country who controls more than 40% of the wealth has enjoyed some 22 trillion dollars in tax cuts since 1977. That's under Carter, Reagan, Bush I, Clinton, and Bush II.

If the wolves and the rabid dogs all dress in sheeps clothing, is it not still a nasty beast dressed up as a sheep?

click on my post history and see my thread I created on this very subject, then please contribute to it and don't forget to star and flag it.

Hey, it's not cool to solicit stars and flags for another thread on this board, star and flag this one.

reply to post by brickhouse32


Actually this issue is one of those that I bring all the time to related topics, we are not heading to bankruptcy, we are bankrupt already.

This link tells you all the good stories of how our nation has lost its wealth.

www.economyincrisis.org...

U.S. Burying Foreign Money Trail

When a nation needs to borrow money to support from wars to its own infrastructure we are in deed a bankrupt superpower.

I like marges posts, there is always a lot of tacit wisdom behind them.

I feel that the economy is bankrupt and on the verge of collapsing. A lot of the banks are going under and that is a very good barometer of the state of our economy.

It's dangerous that the country is going bankrupt because it makes for an obvious and too easy land grab by foreign nations. We will come out of this with the US sold mostly to other nations and the US being a puppet state for them.

reply to post by BASSPLYR


Exactly and what many people fail to see is that this make the so call war on terror nothing but a joke and an excuse to put in place laws and bills to control US citizens rights in order to keep them out of the biggest sell our of Americans future for generations to come without complaining and retaliating against the guilty ones.

Sad indeed.