Log in

No account? Create an account

Previous File Entry | Next File Entry

The video making a hit around the world. But it needs to be said in our country also.

We, the United States of America, are heading to a point of unsustainable debt where the rate of federal spending will exceed our rate to make more bonds to cover our debt.

We had this past week the five-year US treasury notes fell short of their selling goals, mostly on concerns about unsustainable debt.

It should also bother you that one arm of the federal government, the Federal Reserve, is buying up to $300 billion in Treasurys over the next six months from the other arm of our federal government, the US Treasury.

If President Obama's current budget proposal for FY 2010 passes as is, look for mud to hit fan on October 1st of this year, the beginning of the next fiscal year.

And the other Obama shoes haven't even fell yet. Free health care and free education for all, expensive cap-and-trade (that of course will not be passed on to the consumer, LOL), and the Bush tax breaks ending next year - along with Obama's tax breaks too (yes, you didn't know Obama's little tax breaks are only for two years, did you?).

Somebody has to tell the emperors, Obama, Pelosi, Reid, Dodd, Frank, and the radical left wing of the Democrat party, that they are wearing no clothes. They are not the smartest people in the room, and they are heading us down the road to disaster.

Too bad those type of people, like Daniel Hannan, are few and rare in the United States nowadays.