Government is now broke....
By bailing out primarily government and a few banks but cutting off the private sector from credit.....our private sector is evaporating and through massive entitlement payments and other spending, government has become the only entity spending.
Already most of the nation is dependent on a government check to survive. And each day that passes that number grows as more and more private businesses shut down. The oil spill in the Gulf is only exacerbating the problem.
Tar balls in Texas mean oil hits all 5 Gulf states
The HUGE problem is we as a nation don't produce enough to come close to supporting the politicians promises and spending. Binve's blog clearly points this out:
So the question now as we continue to cut off credit to the private sector shutting down our private economy.....how do we expect our government to keep fulfilling promises it can't afford to fulfill?
1. Take control of all the property/production of the nation and redistribute it?
2. Go out and take the property/production of other nations to give to our people?
At some point, you must pay your bills.....now the question is how?