A $2 Trillion Dollar Defict
About $6000 for evey man woman and child in America....and growing.
Without it....we would have no army
Without it...40 million Americans would be standing in line for food instead of getting food stamps
Without it...most of the money for health care and prescriptions would be gone
Without it...the unemployed would not be getting monthly checks
Without it...we would have to fire most government workers
Without it...the FDIC would be bust
Without it..the Pension Guaranty would be bust
Without it...the FHA would be bust
Without it...few would be buying homes at anything close to current prices
Without it...it would not be the end of the world, simply the end of a welfare world as we know it
And even with it....tax receipts are contracting at the fastest rate in history
And even with it...over 500,000 people are applying for unemployment benefits each week for the first time
And even with it...mortgage defaults have grown to the highest number ever
And even with it...the unemployed are now staying unemployed for record lengths of time
And even with it...our economy is contracting and sales are evaporating
I know many of you Fools think you are entitled to the benefits of such a massive deficit....you are entitled to have such nice hospitals, and strong army, and good roads, and affluent poor not begging at your door, many of you feel you are entitled to all of the above and much more even though no other citizen in the world is permitted to have anything close with such little relative productivity.....
But in the end, the piper must be paid....if we maintain the deficit, fewer and fewer will respect the dollar anymore and our currency will be worthless.....if we become responsible, our economy shrinks massively for a while setting the foundation for future growth
Soon Obama will be forced to make a very difficult choice between attacking other nations to accept our currency or confront his citizens that CHANGE will be necessary.....because no bank, no nation, or no group of nations will have enough money nor the inclination to finance such a large deficit simply so America can feed and care for its citizens without producing much.
Right now we are creating a MASSIVE obligation to the money center banks that niether the banks have the funds to loan us nor do we have the ability to pay them back based on a contracting economy. The more we borrow, the more we and our children owe them ....and one day the primary dealers will demand payment by one method or another.
Nice gig isn't it...you get to loan America trillions of dollars you don't have....collect interest on it......and laugh all the way to any foreign bank as you deposit your profits in case you choose to cut America off of the money you don't have.
If Obama chooses peace....all of us will be forced to accept less....the problem is there is a massive debt load that can't be serviced with less income.....that is why so much debt is defaulting right now as income is contracting......and if government slows spending....it will be much less for all....at which time we will need to restructure.
If Obama chooses or forced into war..........