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Survival of Repubic; US Headed for Fiscal Crisis (60 Minutes interview); Ron Paul is Right

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February 18, 2008 – Comments (5) | RELATED TICKERS: SKF , SRS , GLD

The GAO Accounting office for the government on 60 minutes, telling you what the real deal is? Watch and stand up....research you candidates....each one..... Hillary, Ron Paul, Obama, Huckabee, McCain take a look at each one's views and platforms (Look for yourself dont just watch the news) and see who makes the most sense.

 

Top Comments From digg.com:

 by Minutemanjones 20 hours ago

Does anybody else have the feeling that our government would suck at SimCity? +172 diggs

by lucutus on 02/17/2008

"I like to think that part of why the youngest voters support Ron Paul is that they understand this issue and the financial burden two generations of bad parenting have put upon several generations of America's children.

While many have wrung their hands over drugs, sex and status, the future of this generation has been entirely mortgaged to the Chinese and other foreign holders of our debts. "
The baby boomers I work with openly accept blame and have apologized to me directly for what their generation left us with.

by Richandler 19 hours ago

Yeah, there is only one actual elected official talking about the financial irresponsibility and his name isn't Obama.

+57 diggs  by stonebear 23 hours ago

Don't heap it all on their shoulders. The downfall happened in 1916, when control of the nation's money was given to the international banking cartels; everything since is a direct result of that. It was the parents of the baby boom who had a real shot at revolution, during the great depression, but there was just enough middle class left intact to prevent it. By the time the baby boom had its shot, the middle class of their parents had become large enough that any meaningful social change was literally impossible no matter how much they protested. They should be given credit for what little they did pull off under the circumstances.

With the unrelenting attack on the American middle class today, and the hubris of the banks to rely on a police state to prevent social change instead, this generation may have a real shot at finally overturning the abomination of desolation that has been wrought by the usurers. An elite, high tech police Vs. the raw animal energy of millions of desperate people will be an interesting contest.

+54 diggs  by nooreazy 21 hours ago

No ones gonna do shxx about it. and then America will get its wake up call, sad that were gonna have to take it the hard way

+43 diggs  by phybere 18 hours ago

Wait, you're 400k in debt and you have money to convert to a different currency?

+43 diggs  by Aphelion27 19 hours ago

Well, I converted my money to other currencies (not USD) this weekend. The economy is collapsing, the dollar is falling. I have about 400k in student and mortgage debt right now. After I finish medical school I will practice outside the US and pay it back with Euros.

Oh, and I will vote for an OB/GYN because he is the only Candidate that has a clue. The media is corrupt and is misleading the American people for some reason. Perhaps something similar to Venezuela?

I Hope America Wakes up and takes the country back, but it just looks too bleak until News Corp is destroyed.

5 Comments – Post Your Own

#1) On February 18, 2008 at 11:28 PM, 292972826 wrote:

David Walker is wrong, yes there is a deficit and debt problem.  But we should not blame Medicare for it.

In all western country, medicare is more important than it is the US with even more coverage.

Nonetheless, there is no deficit problem in Canada or in Europe as the US is facing.

Don't foget 25% of the Budget go to the military..

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#2) On February 19, 2008 at 1:02 AM, FleaBagger (28.16) wrote:

slycal -

Where are you getting your statistic that there is no deficit problem in Canada or Europe? And what is to blame for the deficit problem in the U.S.?

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#3) On February 19, 2008 at 3:08 PM, 292972826 wrote:

A simple search in Wikipedia can give you the budget deficit per country...

Budget Deficit of USA -25%

Budget Deficit of Germany -8%

Budget Deficit of Canada 4.00%

http://en.wikipedia.org/wiki/Budget_deficit 

Instead of blaming medicare look at this link

http://en.wikipedia.org/wiki/Military_budget_of_the_United_States 

You can look at this link to if you are going too 

http://en.wikipedia.org/wiki/National_debt_by_U.S._presidential_terms 

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#4) On February 19, 2008 at 8:14 PM, abitare (35.12) wrote:

FYI -

  If you missed our overtime briefing on Friday, David Walker resigned from his position as U.S. comptroller general.

“As comptroller general of the United States,” says David Walker, the federal government’s top accountant, “there are real limitations on what I can do and say in connection with key public policy issues, especially issues that directly relate to GAO’s client -- the Congress.”

Walker left his government post to lead the newly founded Peter G. Peterson Foundation. As the head of the Peterson Foundation, Walker will oversee the billion-dollar endowment of Pete Peterson -- former commerce secretary, the founder of the Blackstone Group and the Concord Coalition and legendary advocate for government fiscal responsibility. Chief among Walker’s duties at the Peterson Foundation will be the funding and advocating of projects that will enhance public awareness of fiscal imbalance, government deficits and nuclear proliferation.

We’re hoping that I.O.U.S.A., in which Walker plays a distinct and prominent role, will be one of those projects. We’ll keep you updated either way. For the full story, check out the “overtime briefing” we sent on Friday.

Report this comment
#5) On February 21, 2008 at 9:15 PM, lquadland10 (< 20) wrote:

 In the past 10 years I have seen a 100% in Property Value. You ask if we are headed for a recession or a depression. Depression. No more credit and please quietly tell all you know not to do any margin trading. I can explain why the comodies and rail and transports are still taking off and why Steel is raising prices world wide. Watch the 4 Canadates. All are talking about rebuilding Americas infastructure. What they are not talking about is what exactly they will build. They let us think that it is the broken bridges will be fixed but it is the super highway from Canada to Mexico.The sub prime mess leaked out early but now that it is out the Government is working it to keep it proped up untill they are ready for the election. Dems or Repub. it won't matter. As the stocket market crashes we will be running around like chickens with our heads cut off. Top that off it will seem even worse than it is because we can now short on a down market. Who in the heck allowed. The big wales are mostly sitting it out waiting for the blood to flow in the street and the volity of the market says we are not there yet.Look at the fact that Paulson, the Fed country wide, and president bush and congress and some banks have not stoped the sub prime and other kinds of funky loans. This is a perfect storm to unite the 3 country's into one union. This is unfolding before our very eyes and I hope there will be a stop to this because we won't have a Fair and free Market. I have seen a large influx of people from Mexico and India and other countrys. They Have Bucks to spend and 75% of it is cash.This is also why we will not colse the Boders. This is why the chambers of commerse accross the country are fighting in Court to keep the Borders open.That is why real wages are not rising but prices are for the working poor. On the bottom in 4 years my pay rose 1.25 and compared to prices it has been 300 % inflation and it is really hitting  the middle class now. Why do you think bush gave away the surpluss. To create this whole mess so they can bail us out and get the super highway built to unite the 3 countrys. Follow the money. Why still can we not get transperancy into this whole mess? Where is the new attorney general in wading into this whole mess? Is this what you want for your children> Why did the government do a back door deal with Mexico to sell them the Helocopters and weponds and if my facts are right passed this in the Iraq bill. Look at Gov. Perry and Kay Baily Hutchenson  also part of this. Look into the Tex. Congress and you will see that our boader patroll never recieved any money and was told that we can get it from Mexico. Top that off with the War in Afganistan and Iraq. I am letting you know that this will go down just like the Depression when it was wages 40 to 1 and now it is 536 to 1 for the working poor. That is why it is up- heavel world wide. The wage range is world wide. What will happen next to quell the masses is another bigger war.You hear the sabor ratteling now  with Russia and China. 1900 leading up to the roaring 20's the great depression and then another world war. Can we see history repeating its self? Are we following the european union? Yes and yet didn't this country fight to be free and how did the United States loose its way. Now listen to the people who are telling us to take on more debt to make this much worse. The ones who tell us to save are the ones we need to listen to.I hope this helps to exlpain why comadies are going up in this market. Now you have the information and you can do with it what you may. Thank you for listening to me. Just one more piece of information for you. Estements we will be bankrupt by 2057 If you missed our overtime briefing on Friday, David Walker resigned from his position as U.S. comptroller general.

“As comptroller general of the United States,” says David Walker, the federal government’s top accountant, “there are real limitations on what I can do and say in connection with key public policy issues, especially issues that directly relate to GAO’s client -- the Congress.”

Walker left his government post to lead the newly founded Peter G. Peterson Foundation. As the head of the Peterson Foundation, Walker will oversee the billion-dollar endowment of Pete Peterson -- former commerce secretary, the founder of the Blackstone Group and the Concord Coalition and legendary advocate for government fiscal responsibility. Chief among Walker’s duties at the Peterson Foundation will be the funding and advocating of projects that will enhance public awareness of fiscal imbalance, government deficits and nuclear proliferation.

We’re hoping that I.O.U.S.A., in which Walker plays a distinct and prominent role, will be one of those projects. We’ll keep you updated either way. For the full story, check out the “overtime briefing” we sent on Friday.

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