[BITList] dollars anyone?

[CT's]

agree , frank

but the US debt is of astronomical proportions. 
according to the US government accountability office as of 30 sept 2008 the US was in a $56 trillion financial hole. so the typical US family had $483,000 worth of debt they didn't know about!
supposing Washington policy makers agree to do something about the financial hole and can make tough spending choices and raise taxes [the only way out] to address the growing deficit problem, by 2030 federal and state taxes will 
have to go up from about 31% now, to at least 45%! by 2040 it would be at least 53%! it is highly unlikely they have the courage [balls] to do this.

yes, this ship of fools is sinking - we have to thank the gang of four - bush43, cheney, rove [bush's brain] and rumsfeld, and it only took them 8 years - bloody brilliant.  
we went from a $236 billion surplus in when bush43 came into office, to a deficit, for example, of $400 billion in 2003 - not bad for 2 years of republican spending more than was coming in = about $90,000,000 per day.
that is about $90 million spent each day in excess of income - and the awful truth is that the speed of spending increased throughout his presidency. 
The gang of four left the country in a disastrous recession and the world finances almost in ruins, as well as a us deficit of over $12.3 TRILLION. not to mention two wars with over 4000 US military killed completely unnecessarily - just the bush/cheney ego trip.

the US can print money - buy when confidence in the dollar goes and the gulfo is the dominant oil currency, few will want the dollar - end of story. we'll be joining the PIGS.

ct


From: fs 
Sent: Friday, February 19, 2010 8:46 AM
To: bitlist at lists.bcn.mythic-beasts.com 
Subject: [BITList] did you know?


ct
But America has one significant advantage over Greece they print the money they owe
frank
On 2/19/2010 10:20 PM, CT's wrote: 
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