Sunday, August 9, 2009

Increase in federal debt...most in debt nation in the world.

U.S. Treasury Secretary, Timothy (I have no idea how to pay my taxes..but won't get penalized) Geithner has asked for an increase in the national debt limit from $12.1 trillion (thats $12,100,000,000,000 +) to some unspecified number. I suspect congress will give it to him so the U.S. "...can meet it's obligations". In the real world...the U.S. has no money. We are now the number 1 debtor nation to outsiders. Does this not strike anyone as bad? The legislative and executive branches are going to collapse this country.....why please tell me why anyone would support any policy that coninues us down this road????!!!!!

The stock market went up on Friday due to a perceived decrease in unemployment...what really happened is more people either stopped looking for work, in which case they were dropped from the statistics or managed to find part time work (in order to eat) in which case they are dropped from the stats. Unemployment is really closer to 16% hence the need for congress to extend unemployment benefits.

The national debt will exceed the GDP sooner than predicted....this hasn't happened since WW2. In fact it took 200 yrs for the national debt to reach $1 trillion...yet is has only taken the last 33 years for that debt to reach almost $12 trillion. You tell me where the problem programs are killing this nation....we have become a nation of freeloaders praying on each other for freebies and throwing away life liberty and the pursuit of happiness....we are definitely a poor country.

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