Merry Christmas, Happy New Year, the King has no clothes...oh, and you're broke!
I came across this article reading from World Net Daily Devvy Kidd's column . Kidd makes the point that I've made for years that taking money from you to give to them is sinful, wrong , evil and immoral. That if the Feds (and states) left us alone, the American people, the most generous people in history, would give to the Salvation Armies of the world that do a FAR better and moral job of caring for the poor than the Feds or states haver ever or could ever accomplish. EVER! Another article about private vs. government charity here and especially here , which is real vs. false, destructive charity.
But, the article I refer to is one that Dr. Walter E. Williams has also written about in this article . The real deficit is not $8,000,000,000,000 . It's so large that estimates run from a low of $37,000,000,000,000 to a high of $75,000,000,000,000. And Social Security is a mere percentage. Medicare and Medicaid are the monsters that will sink us all.And the new Medicare Prescription Drug Act will add another $5-7,000,000,000,000 to that during my lifetime.
All Congressmen (Reps and Senators), all have access to this information. There will be no surprise. It's coming for sure. We've had a few opportunities to stop this. We may, repeat MAY have just one more.
We do have a few lessons from history. After the French Revolution there was an currency (economic) crisis. There was at least one currency exchange. It didn't work. There came a man who promised to end this crisis. His name was Napoleon Bonaparte.
After WWI the huge war reparations were crushing Germany. The government solution? Print more deutsche marks. Inflate their way out of the debt. And inflation reigned down on all the citizens. One incident I read was that a man in Germany had saved enough to send his son to the university. Four full years. When the inflation hit, all his son's college fund could buy was just one meal when he was ready to go to college.
And government is not the solution.That's like asking Ted Bundy to run a dating service.
If you think for a moment that governemnt is the answer, see how the Feds took a recession in 1929 and turned it into a depression here . Oh, and by the way, the same article shows how the Feds brought about the original market correction (called Black Monday, 28 October, 1929). It's a complete read, but well worth the time to set history straight.