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The US government has officially gone insane!

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posted on Nov, 23 2009 @ 11:39 AM
Payback Time By EDMUND L. ANDREWS WASHINGTON — The United States government is financing its more than trillion-dollar-a-year borrowing with i.o.u.’s on terms that seem too good to be true. But that happy situation, aided by ultralow interest rates, may not last much longer. Treasury officials now face a trifecta of headaches: a mountain of new debt, a balloon of short-term borrowings that come due in the months ahead, and interest rates that are sure to climb back to normal as soon as the Federal Reserve decides that the emergency has passed. Even as Treasury officials are racing to lock in today’s low rates by exchanging short-term borrowings for long-term bonds, the government faces a payment shock similar to those that sent legions of overstretched homeowners into default on their mortgages. With the national debt now topping $12 trillion, the White House estimates that the government’s tab for servicing the debt will exceed $700 billion a year in 2019, up from $202 billion this year, even if annual budget deficits shrink drastically. Other forecasters say the figure could be much higher. In concrete terms, an additional $500 billion a year in interest expense would total more than the combined federal budgets this year for education, energy, homeland security and the wars in Iraq and Afghanistan. The potential for rapidly escalating interest payouts is just one of the wrenching challenges facing the United States after decades of living beyond its means. The surge in borrowing over the last year or two is widely judged to have been a necessary response to the financial crisis and the deep recession, and there is still a raging debate over how aggressively to bring down deficits over the next few years. But there is little doubt that the United States’ long-term budget crisis is becoming too big to postpone. Americans now have to climb out of two deep holes: as debt-loaded consumers, whose personal wealth sank along with housing and stock prices; and as taxpayers, whose government debt has almost doubled in the last two years alone, just as costs tied to benefits for retiring baby boomers are set to explode.

I mean how are we EVER going to get our debt as a nation under control? Hate to say it but war is on the horizon for sure.

posted on Nov, 23 2009 @ 11:48 AM
War is on the horizon?

War's been slapping us in the face since the invasion in '02.

What's happening now isn't anything new. Ever generation thinks that their time is the time that ALL will go wrong. People have been saying this stuff ever since humans could speak and complain.

posted on Nov, 23 2009 @ 12:05 PM
reply to post by Tomis_Nexis

The war on terror is not a real war. No disrespect to those that are fighting and dying over there. But let's be honest the wars in Iraq and Afghanistan are a mere blimp to the average daily life of my fellow Americans. Are we rationing gas? Metals? etc. to help the war effort? Hell no. WWII was a real war. American society pretty much came to a trickle in order to support the war effort. EVERYBODY in some way was personally affected by the war. That's what I mean.

And every generation is worse off than the next in many ways. We have many more weapons, are more heavily in debt. Can you honestly say each generation that has passed has had more opportunity, more wealth, more peace? No they haven't in my opinion. More and more Americans own less and less. Sure they may have "things" but they OWN less. They are more in debt than any generation before them. And there is more violence and devastation than any before. The world is more intertwined than ever before so things have the potential to affect us all much more than any generation past.

posted on Nov, 23 2009 @ 12:21 PM
I wonder if anyone besides me is wondering when the IMF will step in?

I mean REALLY step in.

posted on Nov, 23 2009 @ 12:38 PM
There's too much going on right now to make much sense out of just about anything! The insanity has been going on in various forms for many years. Sure, you look at the charts of projections in debt and it obviously seems unsustainable. Thing is, people have been saying this for a while now. Many thought we'd already spiral out of control. It seems there are layers of manipulation that is being used. Burst a bubble, inflate another. All the while, the people are the losers here.

It won't come crashing down until the bankers have what they want. Indentured slaves. If they get too much resistance from their goal, yes they will attempt to bring us into another major war. It's all or nothing. If we resist, we must do it in full, else we'll be drafted onto some foreign soil in arms fighting against our brothers. I'd rather end my life knowing the cause was just. Let's take them down, already!

posted on Nov, 23 2009 @ 12:46 PM
reply to post by On the Edge

Why would IMF step in when Bush did not listen to the UN and went ahead with the illegal war on Iraq?

posted on Nov, 23 2009 @ 12:48 PM
reply to post by unityemissions

"Indentured slaves" is just what thee IMF and the WTO do to citizens when they take over a country,in addition to taking it's resources from every source imaginable! (We have oil just begging to be drilled,but no one allows it.)

posted on Nov, 23 2009 @ 12:59 PM
No matter what is done in my name back in Washington D.C., how many trillions of dollars are spent, no matter how the house of credit cards falls, POCKETBOOK economics will eventually prevail. In the reality of things I can only spend what I have. Arguments can be made for (and against) debt. But in the end, if it isn't in pocket it can not be spent no matter if it is gold bullion or harvested acorns. Sounds simplistic, sure, yet parsimony will eventually prevail. Enough noise cannot be made about this fact. No matter how complex the path we ALLOW money to follow, its course will only ever be what we make it into. The crying about what is needed to survive, what is a right to have, what is expected to excel... all are the voices of fear, amplified by greed.

posted on Nov, 23 2009 @ 01:52 PM
America needs to re-evaluate , and change .

The fiscal problems you have are huge , and can only be fixed ,
by the people , for the people . e.g
the stockmarket is geared to make money for the few at the top ,
at the expense of the man in the street . Overpayment of executives,
buying and selling borrowed shares , insider trading etc. , is compounding
your problems . Ethics flew out the window a long time ago .
Dividends need to be suspended and re-allocated , executive salaries
capped and based on performance . Independant , unbiased auditing
with yearly recomendations and reviews must be followed through .
Loopholes must be removed . Overseas tax free accounts must be brought
home . Ethical standards must be re-introduced , and the people running
those committees , also kept in line .
Mortgage debts on housing has to be rationalised . Houses over say 30
years old , have well and truly been paid off . What if a new community
based bank was established , given the titles , halve the values and
repayment interest rates . Small business encouraged and supported.
Forget end of year tax payments . Pay as you go . Or tax every bank
transaction . this will bring all shady deals into the light , for scrutiny.

The monkey on your backs , GREED , needs to be shown the door!
The world doesn't owe you a living , only applies to the poor .
The rich look at it the other way around .

I'm no expert , but you need fundamental change to reverse you fortunes
Otherwise your downward spiral will eventually hit the ground .!

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