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Debt ceiling will not be raised
Message
From
15/09/2013 16:01:04
John Ryan
Captain-Cooker Appreciation Society
Taumata Whakatangi ..., New Zealand
 
 
General information
Forum:
Finances
Category:
Credit
Miscellaneous
Thread ID:
01583150
Message ID:
01583308
Views:
43
>>It is not a Democrat/Republican thing - it is a mindset of the federal model where they believe they can piss away our money on unsound ventures.

Many of the current debt/federal debt problems can be laid at the door of four items:

1) Exporting of manufacturing jobs to China for a short-term dividend gain.
2) The banking greed fiasco.
3) In healthcare, underfunding of Medicare/Medicaid because anybody who tried to underwrite competently got punished by voters- an act of which they are immensely proud when they claim to have accumulated assets through hard work compared to today's lay-abouts.
4) In Social Security, deliberate underinvestment of premiums during a period of massive return that also was privatized by voters.

To put things in perspective, last year the unfunded Medicare deficit was calculated at $47T. This year there is muttering that it may exceed $50T. A few $B here and there on failed green projects is a flea compared to this elephant in the room.

Surely these trends of selfishness and greed should disqualify those responsible from ever being entrusted with power ever again. Instead people act as if these are acts of nature, assessing politician sound-bites as gospel without considering what such politicians did in real life.
"... They ne'er cared for us
yet: suffer us to famish, and their store-houses
crammed with grain; make edicts for usury, to
support usurers; repeal daily any wholesome act
established against the rich, and provide more
piercing statutes daily, to chain up and restrain
the poor. If the wars eat us not up, they will; and
there's all the love they bear us.
"
-- Shakespeare: Coriolanus, Act 1, scene 1
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