Is the U.S. bankrupt?

How could the US not be broke. They just keep printing more money. Then spend, spend, spend..... This is the work of crazy people.

 

no such thing. The Gov. doesnt really take the future into its accounting. it s like we owe 9 trillion, big deal, we have a one hundred percent credit rating. if i had to sum it up... when you control the levers, you do what you like...

 

Yes, bankrupt financially, mentally and morally. Just pass the problems on to the children. It's ok as long as I get my check, power and pension.

 

why would the current prez care? he's out of office after the 08 election... unless he manages to pass some "bush family = monarchy" law...

 

Remember it is not just poster boy bush, it is all who support him on the same boat. Don't give them a pass and just blame him. It's part of their strategy to rob future presidents of the opportunity to run the country as they see fit as they will be so engaged in 'repairing' the bush/republican llegacy/damage they will not have the resources to do good as they will see fit.. It's sneeky, dishonorable, unprecidented and will have long-term consequences, and naturally it is a slippery slope because opposing parties will learn to play the same game thereby crippling other future presidents. BTW if you are familiar with my posts in general you will remember that I hold the dems in equal contempt for not doing their job too, so don't think this is a partisian post. I agree with Begreen. bankrupt financially, mentally and morally from which there will be no recovery in my lifetime.

 

You're right. They both are equally guilty of robbing the people of everything. I believe it all fits with their b--ls--t idea about having the New World Order 1 govt. run world. Naturally, people like Bush, Cheny, and the rest will be at the top living the good life while the rest of us will just barely get by.

 

I'd like to add to very observant points passed by Walker1, TonyPSchaefer, MarinJohn, galaxee, Begreen and jared2.


Pardon my French, but shit will really hit the fan if Iranians start trading oil in Euros on their Bourse, something that has been closely watched by many financiers all over the globe.

The move may turbo-jet the plunging of the dollar and effects can be devastating to our economy.

We are spending 195 million dollars daily on Iraq effort! It may be a drop in the bucket now, but if the war escalates in terms of expenditures and duration (5 - 10 years), it will affect our budget big time.

Just in recent days the UAE and some Saudi banks pulled back massive amount of capital out of US securities in retaliation to Dubai Ports deal (and some considered them as allies) and that sparked immediate dent on a dollar itself. Also Syrian banking transactions had been diverted to Euro, another tiny but significant factor that leads to our disadvantage. If many countries resort to this type of tactics, the effects will be only creating more headaches for our kids.

Let's hope for the best though.

 

MarinJohn, If you are going to broaden this saying all who support Bush are morally, financially, and otherwise bankrupt....then I'll say ALL Americans are morally and financially bankrupt...INCLUDING you!

Anyone who would STAY here in this cesspool and claim US citizenship should be painted with the same broad brush. Begone...Begone!!!!! (All said with the utmost sarcastic intent)

 

Mr. Schmika, if I may interject here, it seems that MarinJohn is making an effort to do anything that may alleviate the USA becoming a cesspool. Treat it as checking and balancing, a formula that was established by our founding fathers. His observations spur questions about ineptitude, complacency and accountability among those whom we have entrusted running of our country. Unless you're a proponent of infallible public officials, I don't think you prescribe to it though.

 

The U.S. is not actually bankrupt as long as other countries are willing to keep loaning us money (by buying our treasury notes.) At the present moment they keep buying.

The problem is that they are not going to go on forever.

Now, if they stop loaning us money, the value of the dollar plumets, and they lose what they already have invested, so there is a strong incentive for them to continue, and this works in our favor. But at some point if we do not clean up our financial act, they'll stop throwing good money after bad, and then we're in for it.

If you look at numbers like debt-to-GDP ratio, we're not in good shape, but we're not yet a complete basket case. The problem is that present policy is borrowing for present spending, and that's bad; and our level of saving is too low. If we want to remain fiscally strong we've got to bite the bullet and start financing our government spending from domestic sources rather than foreign. That means more savings, and more taxes, and less foreign borrowing.

But when our government is run by crooks (by which I refer to BOTH political parties) there's not a lot of hope.

 

Scholar Clay Jenkinson, aka Thomas Jefferson, points out that the British were doomed to failure in North America because their supply lines were so long across the Atlantic. We find ourselves in the position of the 1804 British as we get deeper and deeper into Iran, Iraq and Afghanistan.

True conservatives think and act "least cost, end use" or long-term. The present administration is "damn the cost, the end will justify the means" or "least cost, first use" - all short-term thinking.

The golden rule: "He who has the gold, rules." As long as we keep printing more money, we have the grand illusion of wealth and power. Inflation will come and we will pay a severe price.

 

Thing is, when *most* of the debt is purchased by foreign interests, you're not pulling the levers. Somebody else is. That's why Dubya is so chummy to China and Saudi Arabia, because he has to be.

Another thing to consider: what percentage of current government expendiature is just to pay interest - the finance charges - on past debt?

Here in Canada, the current total public debt is reported at around $500 billion, as of 2005. The yearly interest on that, as of 2005, was $35 billion. This is out of total revenues 2005 of $198.4 billion, or almost 18%.

In the U.S. the "accepted" debt is almost $9 trillion. The neat little Debt Clock is here:

http://www.brillig.com/debt_clock/

If you include "unfunded" debt, it's closer to $40 trillion:

http://mwhodges.home.att.net/nat-debt/debt-nat.htm

As of 2003, the interest alone was around $313 billion dollars a year. That's a lot of money that could be put into infrastructure, health care, etc.

This reminds me of the credit card junkie who claims not to care, as one credit card is used to meet the minimum payment on another card. As long as they can engage in float, they could care less.

 

Until we get HONORABLE people in congress & the white house nothing will change. What we have now as far as I'm concerned are so called elected officials that do nothing for anyone other than their rich friends and large corporations. Why should they care about the taxpayers? They just keep putting us deeper and deeper in debt to foreign countries. Does that make any sense to any sane person? Not the way I see it. Way back in 1974 we had the chance to get vehicle smart. Look at what people drive today. Bigger gas hogs. Nobody except a few of us cares about what the bigger picture is.

Someone gave me a book to read. It was a real eye opener. It's called; The Committee Of 300 by a Dr. John Coleman- 4th edition, 1997. ISBN 0-9634019-4-7.

You might want to get a copy and read about the 300. The only phone # I have is: 1 800 942-0821. I can't find a price in the book, but I think I paid around $15 back then. It will open eyes wide. I see George Bush Sr's name on the membership list.

 

My parents have plenty of books about The Illuminati that echo similar ideas.

Let's face it, a lot of things happen on PURPOSE. Anybody who believes these events are random really need their heads examined.

 

I completely agree with your assessment, without curtailing campaign financing the system is plutocratic, government is for sale (legalized corruption aka lobbing) and goes to the highest bidder and both parties are just a smokescreen for the masses to keep them railed up.

Thanks for the book recommendation, I'll pay a visit to a library soon and will report after reading with my take on it.