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Banksters national-debt-Ceiling dollar-destruction banksters
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Gary Edwards on 02 Aug 11The US Government will continue to borrow over $100 Billion per month. Thanks to the grand borrowing plan, the ruling class assures us that spending cuts for 2012 will total $7 Billion (for the year). 2013 is whopping $2 Billion. What a deal!!! It's convert to GOLD or kiss it goodbye time my friends. excerpt: The prospect of having S&P downgrading US debt has politicians scrambling to prevent such a Bonfire of The Keynesians. To forestall the coming horror, they worked tirelessly to pass a Balanced Budget Amendment, means test entitlement programs, close unnecessary military bases which were doled out as Congressional Pork, and repealed ObamaCare to the ringing cheers of small businesses all over America. Pysch! No they didn't. They immediately mounted a rhetorical assault against S&P for having the temerity to question the creditworthiness of an organization that has borrowed $5Tr dollars in the past five years, seen a precipitous and enduring decline in its corporate revenues, and has failed to fashion an acceptable long-term budget in the last 800 days. If a broker told me to buy lots of stock in some private corporation that tried that crap I'd hang up the phone on that individual without any further comment. S&P put it more politely when they said the following. "We view an inability to timely agree and credibly implement medium-term fiscal consolidation policy as inconsistent with a 'AAA' sovereign rating." So the United States government has failed to pass a budget for 800 days. We have increased our national debt from $9Tr to $14Tr in the very recent near-term. Our President has recommended a budget that would have raised this indebtedness to $25Tr over the next ten. It's a genuine shame we aren't giving these people more revenues. They manage what we do give them so well.