The Bankruptcy of America
posted Jul 29, 2004 at 03:48PM
I had just to scoff at Pederson's supposdedly objective "bi-partisan" analysis of trying to get America to avoid bankruptcy.
Never in the recorded history of mankind is there an instance of a country going bankrupt by spending too much on education or health care, or research, or helping poor people. It can lead to bugdetary problems, but these are usually quickly fixed by elementary management practices.
History though, is replete with examples of countries...and even empires, going belly up because of excessive military spending and fighting unnecessary wars. The official US defence budget is $430 billion and growing. According to an article in the Christian Science Monitor, unofficial defense spending is closer to 800 billion. If you considered all the money America spends on "security" from intelligence, to law enforcement to prisons - those numbers move into the trillions. Even cutting these expenditures by 15% would take care of most of your 7.3 trillion dollar debt by the end of the decade...and leave lots of room for real stimulus.
I am not a pacifist. I was an infantry officer for 22 years, part of that involved in equipment procurement. I can tell you with no doubt from working with American counterparts that thier entire zeitgeist could be
summarized by the phrase "There has got to be a more expensive way.."
Tough choices? The characters that currently comprise America's elite don't have the stones to make tough choices less they be called "unpatriotic".
As far a bipartisan "rapprochement"...pullleeze...religious fundamentalists like Ashcroft and Bush, and the rest of the neoconservative idealogues that now run the Republican party, are incapable of compromise...."you are with
us or you are against us" "if you are not with us...we will destroy you" is their attitude.
It is not enough to throw them out of office..until some of these crooks and idiots start getting thrown into jail, or more convincingly, hung off some telephone poles, then America's slow descent is all but assured.
Indeed given the amount of debt that is controlled by China and Japan, the reality is that America is only one sell order away from an economic extinction level event.
Is it any wonder that within independant market analysis circles, the commentators on mainstream media are regarded with contempt, little better than cheerleaders and contrarian indicators.
It make me so angry...if you guys had your BS deflectors on at even low power, most of this stuff wouldn't be happening.