U.S. Politics - Topics - U.S. Facing Debt Time Bomb
Jan 7th 2009MichaelPolitics & The ONE (Obama)
We are soooooo fucked
With President-elect Barack Obama and congressional Democrats considering a massive spending package aimed at pulling the nation out of recession, the national debt is projected to jump by as much as $2 trillion this year, an unprecedented increase that could test the world’s appetite for financing U.S. government spending.
I am wondering if we are worse off than the results of the FAILED Jimmy Carter failure as president that almost destroyed America. The media will blame Bush for the crisis while ignoring the facts about the congress holding the purse strings. ( I do blame him for not vetoing the damn bills).
There’s a time bomb in there somewhere,” Crandall said, “but we don’t know exactly where on the calendar it’s planted.”
It will all come around and hit us in the head. Russia and China will get decapitated first with the melt down.
Congress is not planning to raise taxes or cut spending to cover the cost of those programs, because economists say doing so would further slow economic activity. That means the government has to borrow the money.
It will take us years to dig out of the mess, why don’t they learn to stop digging? How do we find someone that can get the GOP to step away from the check book?

