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alstry (34.92)

It is Official...Should We Arrest Congress Just Like Madoff?

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August 08, 2010 – Comments (1)

We arrested Madoff for fraud.....and now he is in jail......

Right now, about one out of every two dollars Congress spends is "borrowed." Absent a World War, Congress never borrowed anywhere close to the percentage of money they have borrowed in the past few years.  And if only one third of the current "borrowed" spend came back in personal income tax receipts, then 60% of all government income tax receipts are simply a product of government "borrowing" money and spending...including paying Congresspeople's and other government employees salaries and taxes.

Just one problem with the "borrowing".....no entity in the world has the "money" to "loan" America over $1.6 Trillion dollars per year.......and if government didn't spend that $1.6 trillion....then income taxes the Federal Government, and the American economy, would evaporate.

So we have a dilema, there really is no where near the money that Congress needs to "borrow" to keep the system, and their salaries, going........and if that money is not spent, the system collapses.

It is amazing how long people didn't listen to Markopolis when he wrote the SEC informing them that Madoff's returns were mathematically impossible to achieve.....until it was too late....it is even more amazing how long people didn't listen to Chanos when he warned Enron was a fraud.....until it was too late.....what is even more amazing is both guys were Greek.

Just like Alstry said, Greeks eat sheep, they are not sheep.

1 Comments – Post Your Own

#1) On August 08, 2010 at 8:39 PM, alstry (34.92) wrote:

The Federal Government is borrowing about $1.6 trillion dollars per year......how can our public officials spend money like this when we are cutting back on Food Stamps, closing down hospitals, and firing public safety officers?

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