George
W Bush during his Presidency DOUBLED the National Debt from 3 Trillion
Dollars to 6 Trillion by the end of his 8 years in office. That was
horrid. It was unprecedented. He wasted it on wars and spending that
was ill advised.
For that reason Barack Obama was elected on the platform of Hope and Change. It was a change check that the new President wrote with his mouth that his butt could never cash. But he had more than a pen and a phone, he had the national credit card. So while by slight of hand he appeared to be cutting spending, he TRIPLED the national debt in 6 years from 6 trillion when he took over to now OVER 18 trillion. And EVERY DAY he swipes that card thru the machine for another 2.3 BILLION dollars of new debt. By the time he leaves office we will be well over 20 TRILLION.. To put that into some framework the TOTAL number of Dollars we are able to generate in all of everything in the whole of the USA is about 16 TRILLION. So if you were somehow able to suck all of the money out of the economy we still would be broke.
If now you are saying this can't go on. YOU ARE RIGHT. It won't. One of the "befits" of getting older is you can remember patterns of the past. I well remember the Jimmy Carter days and then resultant Ronald Reagan. An inversion of the Bush Obama succession. Carter left the nation in crisis and Reagan fixed it.. BRUTALLY. Bankruptcies were rampant. Asset values collapsed as the money had to be sucked back out of the economy. Job loss. All kinds of things. The result is that after his 8 years the economy did well. Bush 1 and Clinton road the wave of the Peace Dividend.
This debt must and will be unraveled, one way or the other. Greece and Argentina are examples of how far things can fall. And the USA is much larger. This national financial suicide will be resolved but let me warn you how painful it will be.
The very rich will be fine. They can always move money to safer havens. They have experts helping them skate around any issues. They can afford to move and dodge. There is no stopping them. The very wealthy will notice but it won't matter much. A blip on the radar screen.
The middle class, those souls who pay taxes, work, produce, do what needs to be done, the survivors in our nation will suffer. It will be hard. Bankruptcy. Difficulty. Even homelessness. But they have come back before. They are independent. They will eventually find a way to stabilize. It will be less than before, but they will survive.
The real losers in the coming reconciliation are the dependent poor. The independent poor will survive. The cruelest thing these last 6 years has done is create a fresh underclass of dependent poverty stricken people. They will be cast aside as the money for guns or butter is divided up. They will become dust in the wind. Unnoticed, uncared for, unable to make it. Book of Eli poor. There will be not hope for them.
In a sad way it's karma for an electorate that enthusiastically supported Obama's run for President. Many of those who were enthused will be cast aside. It will be painful and brutal. The amputation of a diseased limb is painful to save the body.. but it will be amputated.
And there's nothing you or I can do. No matter who is elected in 2016 and beyond.. the grand reckoning is coming, the reset will happen. We are swirling down a drain and can't stop ourselves
Lord, have mercy.
Christ, have mercy.
Lord, have mercy.
Kyrie Eleison
For that reason Barack Obama was elected on the platform of Hope and Change. It was a change check that the new President wrote with his mouth that his butt could never cash. But he had more than a pen and a phone, he had the national credit card. So while by slight of hand he appeared to be cutting spending, he TRIPLED the national debt in 6 years from 6 trillion when he took over to now OVER 18 trillion. And EVERY DAY he swipes that card thru the machine for another 2.3 BILLION dollars of new debt. By the time he leaves office we will be well over 20 TRILLION.. To put that into some framework the TOTAL number of Dollars we are able to generate in all of everything in the whole of the USA is about 16 TRILLION. So if you were somehow able to suck all of the money out of the economy we still would be broke.
If now you are saying this can't go on. YOU ARE RIGHT. It won't. One of the "befits" of getting older is you can remember patterns of the past. I well remember the Jimmy Carter days and then resultant Ronald Reagan. An inversion of the Bush Obama succession. Carter left the nation in crisis and Reagan fixed it.. BRUTALLY. Bankruptcies were rampant. Asset values collapsed as the money had to be sucked back out of the economy. Job loss. All kinds of things. The result is that after his 8 years the economy did well. Bush 1 and Clinton road the wave of the Peace Dividend.
This debt must and will be unraveled, one way or the other. Greece and Argentina are examples of how far things can fall. And the USA is much larger. This national financial suicide will be resolved but let me warn you how painful it will be.
The very rich will be fine. They can always move money to safer havens. They have experts helping them skate around any issues. They can afford to move and dodge. There is no stopping them. The very wealthy will notice but it won't matter much. A blip on the radar screen.
The middle class, those souls who pay taxes, work, produce, do what needs to be done, the survivors in our nation will suffer. It will be hard. Bankruptcy. Difficulty. Even homelessness. But they have come back before. They are independent. They will eventually find a way to stabilize. It will be less than before, but they will survive.
The real losers in the coming reconciliation are the dependent poor. The independent poor will survive. The cruelest thing these last 6 years has done is create a fresh underclass of dependent poverty stricken people. They will be cast aside as the money for guns or butter is divided up. They will become dust in the wind. Unnoticed, uncared for, unable to make it. Book of Eli poor. There will be not hope for them.
In a sad way it's karma for an electorate that enthusiastically supported Obama's run for President. Many of those who were enthused will be cast aside. It will be painful and brutal. The amputation of a diseased limb is painful to save the body.. but it will be amputated.
And there's nothing you or I can do. No matter who is elected in 2016 and beyond.. the grand reckoning is coming, the reset will happen. We are swirling down a drain and can't stop ourselves
Lord, have mercy.
Christ, have mercy.
Lord, have mercy.
Kyrie Eleison
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