should we just give up now?
Is it to late? Maybe... I think President Bush will bankrupt the US government.. here is my analysis; I did it by myself because I was curious what it would take... seems no one really has done any news stories or analysis, I couldn't find anything on any "magic number".
Lets pretend the US government is an "Average American"
Right now the US government has a debt of $7,440,000,000,000 (7.4 tr) ( http://www.brillig.com/debt_clock/ ) not that the Bush administration cares.. not only are they currently trying to open the top on the cap ( http://www.boston.com/business/articles/2004/11/04/administration_pressures_congress_to_raise_debt_ceiling/ ) but they are looking for more money for hallibuton ( http://www.washingtonpost.com/wp-dyn/articles/A62554-2004Oct25.html ) it's ONLY 70 Billion! Basically all american's, children etc.. are donating 906$ (so far) so Bush can please his business partners in Saudi Arabia and Halliburon can keep struggling to exist. gah.
So the national debt is about $25,247 per person.. (we won't count that Social Security is "missing" $60,402 PER PERSON because Reagan/Bush Sr. couldn't keep his fucking hands out of it. Yeah it's shitty your dead, but so are my grandparents.. so no disrespect, but thanks for nothing)
Some facts:
Americans carry, on average, $5,800 in credit card debt from month to month
The average person filing bankruptcy is $25,000-$30,000 in debt (i'll use 30k)
This means we have about 870 days until we hit this $30,000 per american mark.. a little under two and a half years. There will come a time when people stop letting us borrow (under the cut it would seem some of america's lands are used as collateral now?).. can Osama bankrupt america?.. he won't have to Bush has already got us on the right track.
The UK's TimesOnline printed this article ( http://www.timesonline.co.uk/article/0,,2092-1312806,00.html )
If nothing has happened by 2008, taxes will have to go up by 74%.
No president, of course, will ever impose any such increase, which means that with the certainty of Titanic’s fate once it had hit the iceberg, America will go spectacularly bankrupt. It is, according to the author, an inescapable fact.
Long before that happens, however, the US will renege on all its foreign debt which will bankrupt the entire world, causing famine and maybe even some kind of holocaust
Or we start giving up land??? I read this on a site .. no idea how accurate it is, but I imagine there is truth in some of it.
http://www.whatreallyhappened.com/ARTICLE2/doodoo
This brings us to the issue of collateral. We've borrowed so much money the lenders are getting nervous. Back during the Johnson administration Charles DeGaulle demanded the United States collateralize the loans owed to France in gold and started carting out the bullion from the treasury. This caused several other nations to demand the same and President Nixon had to slam the gold window closed or the treasury would have been emptied, since the United States was even then in debt for more money than the treasury could cover in gold.
But Nixon had to collateralize that debt somehow, and he hit upon the plan of quietly setting aside huge tracts of American land with their mineral rights in reserve to cover the outstanding debts. But since the American people were already angered over the war in Vietnam, Nixon couldn't very well admit that he was apportioning off chunks of the United States to the holders of foreign debt. So, Nixon invented the Environmental Protection Agency and passed draconian environmental laws which served to grab land with vast natural resources away from the owners and lock it away, and even more, prove to the holders of the foreign debt that US citizens were not drilling. mining, or otherwise developing those resources. From that day to this, as the government sinks deeper into debt, the government grabs more and more land, declares it a wilderness or "roadless area" or "heritage river" or "wetlands" or any one of over a dozen other such obfuscated labels, but in the end the result is the same. We The People may not use the land, in many cases are not even allowed to enter the land.
This is not about conservation, it is about collateral. YOUR land is being stolen by the government and used to secure loans the government really had no business taking out in the first place. Given that the government cannot get out of debt, and is collateralizing more and more land to avoid foreclosure, the day is not long off when the people of the United States will one day wake up and discover they are no longer citizens, but tenants.
Other scary facts:
96% of all Americans will retire financially dependent on the government, family, or charity. (U.S. Dept. of Health & Human Services) -- Bush told us we pretty much can kiss our (meaning younger than 30) social security good bye.
Lets pretend the US government is an "Average American"
Right now the US government has a debt of $7,440,000,000,000 (7.4 tr) ( http://www.brillig.com/debt_clock/ ) not that the Bush administration cares.. not only are they currently trying to open the top on the cap ( http://www.boston.com/business/articles/2004/11/04/administration_pressures_congress_to_raise_debt_ceiling/ ) but they are looking for more money for hallibuton ( http://www.washingtonpost.com/wp-dyn/articles/A62554-2004Oct25.html ) it's ONLY 70 Billion! Basically all american's, children etc.. are donating 906$ (so far) so Bush can please his business partners in Saudi Arabia and Halliburon can keep struggling to exist. gah.
So the national debt is about $25,247 per person.. (we won't count that Social Security is "missing" $60,402 PER PERSON because Reagan/Bush Sr. couldn't keep his fucking hands out of it. Yeah it's shitty your dead, but so are my grandparents.. so no disrespect, but thanks for nothing)
Some facts:
Americans carry, on average, $5,800 in credit card debt from month to month
The average person filing bankruptcy is $25,000-$30,000 in debt (i'll use 30k)
This means we have about 870 days until we hit this $30,000 per american mark.. a little under two and a half years. There will come a time when people stop letting us borrow (under the cut it would seem some of america's lands are used as collateral now?).. can Osama bankrupt america?.. he won't have to Bush has already got us on the right track.
The UK's TimesOnline printed this article ( http://www.timesonline.co.uk/article/0,,2092-1312806,00.html )
If nothing has happened by 2008, taxes will have to go up by 74%.
No president, of course, will ever impose any such increase, which means that with the certainty of Titanic’s fate once it had hit the iceberg, America will go spectacularly bankrupt. It is, according to the author, an inescapable fact.
Long before that happens, however, the US will renege on all its foreign debt which will bankrupt the entire world, causing famine and maybe even some kind of holocaust
Or we start giving up land??? I read this on a site .. no idea how accurate it is, but I imagine there is truth in some of it.
http://www.whatreallyhappened.com/ARTICLE2/doodoo
This brings us to the issue of collateral. We've borrowed so much money the lenders are getting nervous. Back during the Johnson administration Charles DeGaulle demanded the United States collateralize the loans owed to France in gold and started carting out the bullion from the treasury. This caused several other nations to demand the same and President Nixon had to slam the gold window closed or the treasury would have been emptied, since the United States was even then in debt for more money than the treasury could cover in gold.
But Nixon had to collateralize that debt somehow, and he hit upon the plan of quietly setting aside huge tracts of American land with their mineral rights in reserve to cover the outstanding debts. But since the American people were already angered over the war in Vietnam, Nixon couldn't very well admit that he was apportioning off chunks of the United States to the holders of foreign debt. So, Nixon invented the Environmental Protection Agency and passed draconian environmental laws which served to grab land with vast natural resources away from the owners and lock it away, and even more, prove to the holders of the foreign debt that US citizens were not drilling. mining, or otherwise developing those resources. From that day to this, as the government sinks deeper into debt, the government grabs more and more land, declares it a wilderness or "roadless area" or "heritage river" or "wetlands" or any one of over a dozen other such obfuscated labels, but in the end the result is the same. We The People may not use the land, in many cases are not even allowed to enter the land.
This is not about conservation, it is about collateral. YOUR land is being stolen by the government and used to secure loans the government really had no business taking out in the first place. Given that the government cannot get out of debt, and is collateralizing more and more land to avoid foreclosure, the day is not long off when the people of the United States will one day wake up and discover they are no longer citizens, but tenants.
Other scary facts:
96% of all Americans will retire financially dependent on the government, family, or charity. (U.S. Dept. of Health & Human Services) -- Bush told us we pretty much can kiss our (meaning younger than 30) social security good bye.