Excerpt
As a result, going into 2008, the United States finds itself in the anomalous position of being unable to pay for its own elevated living standards or its wasteful, overly large military establishment. Its government no longer even attempts to reduce the ruinous expenses of maintaining huge standing armies, replacing the equipment that seven years of wars have destroyed or worn out, or preparing for a war in outer space against unknown adversaries. Instead, the Bush administration puts off these costs for future generations to pay or repudiate. This fiscal irresponsibility has been disguised through many manipulative financial schemes (causing poorer countries to lend us unprecedented sums of money), but the time of reckoning is fast approaching.
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3 comments:
And yet, most "conservatives" walked away from the ONLY candidate that proposed to do something about that.... Ron Paul.
Good post.
Gordon, I agree with the post and agree that national debt is scary, especially with regards to how much of our tax revenue goes to pay interest on past spending. It's a national security issue. I wouldn't be surprised if a great deal of the Chi-com plan to take over America is to lend us more money than we can afford to pay back. It will be a dark day when we have to tell them that the "check is in the mail".
That said, national defense is the only thing our government is effective at. The government spends far more on vote buying (er, uh, entitlements).
The only real solution is to slow government spending. It's amazing that all these journalists who hate our military can't see any other area out of 10 trillion dollars that can't be cut.
That's the Bush Bash part of the piece I don't agree with. I do believe in a strong defense.
We've spent upwards of three to five trillion on poverty since the 1960's and guess what, we still have poverty.
Now we not only have economic poverty we have rampant poverty of the soul.
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