posted on Jul, 12 2010 @ 04:06 AM
"The rest of the federal government, including fighting two wars, homeland security, education, art, culture, you name it, veterans, the whole
rest of the discretionary budget, is being financed by China and other countries," said Simpson. China alone currently holds $920 billion in U.S.
Bowles said if the U.S. makes no changes it will be spending $2 trillion by 2020 just for interest on the national debt.
It is absolutely foolish for anyone to think that this can be sustained. We are going to hell in a hand basket and the losers will be the American
people. Our economy is being raped as we speak, while the ones doing the raping, such as the banks and corporations are making what they can, while
this gravy train is still on the tracks. Of course, it will be the American people left looking for the magical chair when the music ends.
I can't believe that the American people aren't going ape poop over this. If you tell an average American worker that his pay is going to be decreased
by 20 percent, he will get angry and probably protest, however if you tell this same American worker that his dollar will go down in value by 20
percent, he remains mum, even though he will still be out of about 20 percent of his former income (though a tad difference exists, for all practical
purposes, it is the same).
What's even more crazy, all of this borrowed money is going to corporate interests. They are the ones benefitting from this, not the American people.
The American public is being left with the bill and it is the American people who are going to have their country repo'd, while the blood-suckers move
on to greener pastures, after this one sucked dry.
Unfortunately, we have no manufacturing base to recover from the inevitable collapse of our economy. We will not be able to provide any value to the
world, after our dollar is replaced as the international reserve. Right now, the only value we add to the rest of the world, is our currency but soon
enough, that value will be depleted and another currency will take the place of the dollar.
Our economy has been effectively raped and the American people just stood by and watched it happen, with little more than a yelp in protest. This is
unbelievable. I pray for the generations after ours and all I can do, is apologize in advance.
(visit the link for the full news article)