The United States Is Heading for Bankruptcy
One of the dumbest things said by anyone in the Bush administration, was uttered by Grandfather Darkness himself - Dick Cheney - when he said, "Reagan proved that deficits don't matter." Of course, he meant they can't hurt you in an election because the public seems overwhelmed by the numbers - these guys never think in terms of what is good for the future of the country. It's all about the immediate spin. Every now and then I've been seeing these reports about the financial condition of the United States, especially in regards to unfunded financial commitments that we've already made. Here's one of those articles for you to ponder. Of course, anyone who brings this up is trying to "talk down the economy", but it's important to remember that the Soviet Union fell apart financially from within. That's how they ended their superpower status. We are in the process of doing the same. Deficits do matter, and though President Bush has turned in some terrific numbers for the top 1% of Americans - numbers vast enough for the entire economy to appear great, here's the real situation: The majority of Americans are not doing that much better, the financial well-being of the nation is headed for collapse, and Bush and Cheney couldn't care less. It's always been about the feeling of power for Cheney and Rumsfeld, and once they are gone, America's solvency means nothing to them. Oh sure, they would prefer we did well, but none of their actions seem to indicate it. Deficits do matter. Reagan ran up two trillion in debt and got away with it, but that's not the result of clever financial management - we still haven't paid it off. It's a result of a Republican spin machine that keeps selling Reagan as a terrific President. If America doesn't correct its path, we will go bankrupt, and implode as a superpower. By then - also courtesy of President Bush - we will have to pay for the fact that much of the world now hates us. It's not a pretty scenario but these are ugly times. Cheney will go down as one of the true idiot-villains in American History. It could turn out the thing he did best was fire a shotgun.
Telegraph | Money | US 'could be going bankrupt'