Last year the US federal government spent $3.4 trillion and only took in $1.5 trillion leaving a deficit of $2 trillion. In times past, the general public including: world investors were not aware of the tenuous financial condition of the US. Did you know that the sum total of the US wealth is $68 trillion? Did you also know that we owe $14 in treasury bills, and another $125 trillion in social security and medicare payments. Our debt is twice our net worth-this is beyond bankrupt! I amortized this debt of $140 trillion and over 40 years it could be paid off if government would reduce its size by 50% and commit to debt repayment for the next 40 years.
What do you think the chances of committing a government for the next 40 years to do this are? I would say less than a snowball's chance in hell. So even though we get excited over our conservative leaders - for the most part they cannot control the US congress for the next 40 years which is needed. There is not a bill that can be introduced that will bind the congress for 40 years; secondly every attempt in times past has been so full of loopholes; congress has always found a way to rob from Peter to pay Paul. In other words, they always find a way to snatch the money out of every nook and cranny. Social Security is a prime example, this so-called "lockbox" fund was supposed to be untouchable; yet congress found ways to deplete the funds and replace them with T-bills.
Our only economic chances of survival is to make these massive cuts and drill our own oil using the proceeds from the drilling to pay down the debt. Yet we have to accept the consequences of this irresponsible government and a lot of peoples ox's we be gored; but it is our only hope for survival - if not the US economy is doomed. The next problem with this only solution is that reducing the federal spending by 50% is going to have a huge ripple effect through the economy, but again no matter what the solution is, someones ox is going to get gored and we all unfortunately will pay the price in some way or another.
The latest news on Obama is this: General Electric is planning to move its 115-year-old X-ray division from Waukesha WS to Beijing.In addition to moving the headquarters, the company will invest $2 billion in China and train more than 65 engineers and create six research centers. This is the same GE that made $5.1 billion in the United States last year. And paid no taxes, the same company that employs more people overseas than it does in the United States. So let me get this straight. President Obama appointed GE Chairman Jeff Immelt to head his commission on job creation (job czar). Immelt is supposed to help create jobs. I guess the President forgot to tell him in which country he was supposed to be creating those jobs. If this doesn't show you the total lack of leadership of this President, I don't know what does. It's moves like this that patently expose Obama's Marxist agenda, and worldview. Obama cut is teeth on angry black liberation theology which is Marxist and he cannot ever be expected to become pro capitalist as I could ever become a Marxist. How can the US pull out of the tail spin with Obama leading from behind?
If we fail to take these measures, the deficit spending already planned for the next 4 years cannot be achieved because there isn't $4 trillion in the world to loan the US government and we cannot print more money to dig out of this. I personally see this as a moral problem because in the bible when God judges a nation it is usually through financial means, famines and plagues, we are seeing His protective hand removed from our once great land and the only hope for America is a Christian revival. Consider the natural disasters in the past 4 years, earthquakes in places unheard of. The last earthquake in Washington DC (the liberals have blamed Bush for this one), do you think God is sending out warning signals to the US? Maybe we need to become a nation of righteousness again, maybe we need to stop the genocide of abortion and encouraging fornication and homosexuality. The Irony of the liberal is that the people they support (radical Islam) are the very people that will cut their throats for they illicit ways of life, on the other front we still have China as our arch enemy that we are kissing their rear-end. This culture roared when they heard the news of 9-1-1, they are amassing the largest army in the world and are no friend of the US. They promote genocide, forced abortion and serialization and with their one child per family policy-Chinese citizens will kill their only child if it is a girl and they wanted a boy. This is what has become of the world. This article has only touched one a very small part of our problems and not the other issues of Islam, and forces that wish to destroy Capitalism; however, if we would turn to God He would take care of much of the other issues. The US economy is doomed unless we turn to God.
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