posted on Sep, 22 2008 @ 11:32 PM
I'm here to tell you of a bright spot...a silver lining if you will, in the current financial turmoil we are facing here in the U.S. and globally
Our Federal government with the help of the FED has been able to have a STATE that has been able to pay and enjoy our Guns and Butter i.e. Warfare
Welfare. Of course to be able to accomplish to pay for our ability to have our cake and eat it too, we've had to do 2 things, which are either:
1) Tax (direct finance)
2) Issue debt (Borrow)
Now the debt that is issued could be purchased by two types of consumers:
a) Private (Banks, Fund Managers, or Millionaires etc)
b) Governments (Our own through the FED, or other Central Banks)
Most of our Debt has been purchased oversees. In other words Banks such as China, have bought our DEBT and we have given them paper and promises to
pay them back.
This system can work for time, a limited time only, because Governments have an insatiable appetite to increase spending to appease their constituency
(the "do something for ME" population) or interest group (do something for me Corporations) that pressure them to finance whatever it is they want
to be finance. In our case, we have had to finance Wars, be they Iraq 1, &, 2, Panama Canal, Granada, Vietnam, and so on...along with these wars
we've also wanted to continue and in some cases EXPAND Roosevelt's NEW DEAL programs, we have also continued to create further Bureaucracies which
have created new department in the Federal Government. All of this again needs to be finance.
Now, we have reached a critical point, in how we FINANCE our government. We are still hearing from both CAMPS, Obama and Mcain that they don't see a
need to cut either any programs here at home or abroad. On top of this we have massive BAIL-OUTS that the governments want to pass-on to you and I to
The question below is geared to YOU OBAMA SUPPORTERS AND MCAIN SUPPORTERS:
This leads me to ask: Do you honestly think OBAMA OR MCAIN will raise our taxes to pay for this bail-out, our foreign Bases, and our welfare STATE?
I guarantee you that neither man cannot, becuase we are currently facing a deep recession of which we have yet to see the bottom. Who wants to raise
taxes on people losing their jobs, having to pay higher money for groceries, and shelter while at the same time losing money in their 401ks and the
value of their home dropping.
Our GDP was $13.8 trillion in 2007, as of June 2008, the gross U.S. external debt was over $13 trillion.