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America’s Tragic Economic Future

December 28, 2012 by  

America’s Tragic Economic Future
PHOTOS.COM

Loosely attributed to politically outspoken rock legend Frank Zappa is the notion that politics is the entertainment wing of the military industrial complex. But unless you enjoy economic drama (or tragedy), the playbill for 2013 is already looking pretty lousy.

For months, political news coverage has been saturated with talk of the United States’ damning march toward fiscal ruin; the Nation can almost certainly look forward to confusion as tax rate increases coupled with automatic government spending cuts take place in coming days.

There is some chance that lawmakers could still reach an agreement to lessen some of the consequences of the Nation’s plummet off of the fiscal cliff. But even so, Americans will not have heard the last of depressing economic news.

Just as many people are celebrating the beginning of the New Year with promises of better lifestyle choices and new beginnings, the Nation will have once again maxed out its extraordinary debt limit. The $16.4 trillion in approved government borrowing will be exhausted on New Year’s Eve.

Treasury Secretary Timothy Geithner has urged lawmakers to prepare to take big steps in addressing the pressing debt problem. Without coming to an agreement about how to handle the fiscal cliff first, though, it is unclear how much can really be done.

Treasury is examining options that it had previously considered in 2011 when the government exhausted its borrowing power and earned a credit downgrade from ratings agency Standard and Poor’s.

“However, given the significant uncertainty that now exists with regard to unresolved tax and spending policies for 2013, it is not possible to predict the effective duration of these measures,” Geithner wrote to lawmakers.

On the Treasury shortlist are measures such as selling portions of the Nation’s gold reserves and other Federal assets, or simply withholding payments until tax revenues cover its checks. But Geithner isn’t convinced that any of those measures would be good news for the economy.

“Treasury reached the same conclusion that other administrations had reached about these options,” he wrote in analysis. “None of them could reasonably protect the full faith and credit of the U.S., the American economy, or individual citizens from very serious harm.”

Political grandstanding continues unabated, as Republicans calling for very serious cuts to government spending to accompany any debt ceiling increase continue to be stonewalled by the Administration of Barack Obama.

House Speaker John Boehner (R-Ohio) said he would agree to go along with the President’s debt ceiling increase for one year if the President would agree to equal amounts of spending cuts. Obama said he wants two years.

Sam Rolley

Staff writer Sam Rolley began a career in journalism working for a small town newspaper while seeking a B.A. in English. After learning about many of the biases present in most modern newsrooms, Rolley became determined to find a position in journalism that would allow him to combat the unsavory image that the news industry has gained. He is dedicated to seeking the truth and exposing the lies disseminated by the mainstream media at the behest of their corporate masters, special interest groups and information gatekeepers.

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  • Warrior

    Top news story of 2013. Federal Gubmint spending reduced and Pigs learn to fly.

  • GALT

    America’s Tragic Economic Past

    http://www.youtube.com/watch?v=6os8BRJxvI4

    [comment has been edited]

  • Dad

    We don’t have a tax problem… we have a spending problem. Obama got his votes… now it’s time to cut off the lazy slugs!

    • LouArroyo

      Will never happen. Obama wants MORE! The 47% need to become the 60%!!! We need to continue Ted Kennedy’s immigration scheme to destroy the western free spirit,freedom loving,independent minded White Americans,and replace them with Hispanics. Not the white ones from Spain,Portugal,Brazil, Argentina,Chile,Uruguay, NO! Those countries have restrictions, quotas against them. Immigration is open free for all only to NON white indian Hispanic Countries. Mexicans,Ecuadorians,El Salvadorians (home of the ultra savage MS13 gangs)

      They hate America, will never assimilate! Will never vote Republican,and will liv of the government dole!

      I think Kennedy has won. So has Obama. Obamas Plan is to simply create a one party dictatorship! How? Simple, destroy the republican party!
      * step one…Allow the fiscal cliff, refuse to work with republicans,yet blame hem with the help of the media!
      *second, Push for”comprehensive immigration reform” (LEGALIZE ALL ILLEGALS)!! Republicans will oppose it. Obama,again with the help of the MSMedia will demonize them as “hispanophobes”,xenophobia,racist,against all immigrants. The Hispanic language media, all owned by handfull of liberals, will tell them in spanish that the GOP wants them all either deported or dead!! Im Puerto Rican American and have heard this crap time and time again in spanish networks. I try in vain to argue otherwise but its no use! They believe their spanish language networks!!.
      *Third, Obama will use Puerto Rico US Statehood as a pawn to forever seal the hispanic vote for democrats. Obama will introduce statehood during the most tense Democrat vs GOP anger period to trigger an anti Puerto Rican backlash. Even though all Puerto Ricans are Americans, many in GOP are ignorant and think its some country far off. Completely unaware that its an US territory since 1898. These GOP congressmen will attack Puerto Rico, and once AGAIN, OBAMA will step in, give a national adress on behalf of Puerto Rico Statehood! He will explain that its American soil since 1898,They are all US citizens since 1917,and the Connecticut sized island and its American citizens deserve full and equal rights!! It will be a coup for the Democrats!!

      And if GOD forbid, the Dems get the House,Senate,and White House, they will ram PR statehood through! And The Democrat party will forever be the Hispanic party!
      The GOP will go extinct after 2040, and since Americand by then will love the “give me” democrats, NO OTHER NEW PARTY WILL EVER COMPETE WITH THE DEMOCRATS AND THEIR ABSOLUTE POWER! We will have a one party dictatorship, or as Democrats like to call it, “a NON PARTISAN DEMOCRACY”

      • chuckb

        Arroyo, you have said it right. One thing, you give Barry too much credit, look behind the curtain, there you will find the culprits, barry is nothing, a community organizer with a good voice and reads the teleprompter well.

        Our misfortune is the Republican Party, I believe most of them believe in operating under the law of the land, the constitution, yet, they don’t seem to understand they are opposing a communist ideology in the bolshevik party, they cower in fear of the media and are hard pressed to stand up for their beliefs. We need a party that is hard nosed and holds the line against the red tide.
        We may be too late, it may take an outright rebellion to retrieve our country

  • Bill

    The sad reality is the private sector is what pays for everything and they are being demonized and penalized.

    I cannot believe that powers that be are so stupid to allow this to happen, unless they have a different agenda

    Until we get back to appreciating and promoting the private sector (which is the golden goose that lays the golden eggs), the economy will perpetually be in the toilet

    • oh oh

      Clever NWO thinking combined with stupid third world thinking that now controls from the top and the bottom.

  • gman

    well it is time for the results from drinking the kool aid. Problem is the poor uninformed keep right on drinking the swill. Let’s see what they picked behind curtain number 3.
    Oh bummer the wheel of fortune just crashed to the floor.

  • chuckb

    This says it all: don’t know the author, however, couldn’t be said better.

    Subj: Requiem for America

    the last election was most disturbing and disheartening to me. It certainly was not a landslide victory for Romney as I had wished. I now realize that I was thinking with my heart and not my head. I did not want to believe that our country had changed so much, and that a failure like Obama could actually get re-elected and be given an opportunity to “Finish the job”. “Finish the Job” are his words from his acceptance speech, last night. Therein lies the problem. To the uneducated and ill-informed Obama Zombies, “Finish the Job” means that he will continue to work to improve the economy, create jobs, etc. To Obama, and those of us who possess critical thinking skills and have ears and actually listen, “Finish the Job” means to “Fundamentally Transform America”! Obama’s plan has been and will continue to be to diminish America and his pledge to “Finish the job” is a threat that is actually applauded by the numbskulls that voted for him, support him and cheer for him.

    since then, all the pundits are offering their worthless opinions about how Obama won and how the Republicans lost and what needs to be done. These self-avowed intellects are blaming Romney’s strategy, Romney’s timidity, the Republican Party establishment, the media, and on and on. Many believe that a more Conservative candidate is the solution. Others believe that the Tea Party posture is too extreme and it frightens the electorate. Still others believe the Republicans need to find a way to attract single women, Blacks, Latinos, and Gays. In other words, the Republicans need to become “Democrat Light” if they want to win.

    Folks, the problem is not the candidate, nor the Republican Party. Romney was a great choice and he would have been a great president. The problem is not the Republican platform or the Tea Party thugs to the right. The problem is that the Republicans are selling products, values, beliefs, that too many of the present day electorate ain’t buying. The Republicans/Conservatives are selling what the people don’t want…..accountability, self-sufficiency, competition, success, hard work, honesty, respect, family values, God, Pro-Life, American Exceptionalism, traditional marriage, border control and legal immigration, sanctity of life, Constitutional Rights and freedoms, smaller government, less dependence on government, less taxes, fiscal responsibility, freedom to get rich, freedom to own firearms, freedom of religion, free speech, etc.

    America has changed!

    It’s not the candidate and it’s not the platform. It’s the changed electorate. This is no longer Post WW II America. That generation is gone and those values are gone. The last generation with solid American values is mine and we are dying off daily. We are the sons and daughters of the Greatest Generation. All the following generations (my children and their children) are kids from the 60’s and 70’s with different values towards America, fiscal responsibility, world politics, drugs, music, entertainment, fashion, language, education, work ethic, etc. Not all of these generations, but too many!

    Today’s Americans see things in a different way. They see:
    Abortion….not murder
    Free contraceptives……not Freedom of Religion
    Gun control…….not 2nd Amendment rights
    Fairness….not competition
    Government assistance……not independence
    Gay marriage and tolerance…….not values and beliefs
    Illegal immigration and a “live and let live” attitude/lawlessness……..not border control
    A One World mentality……..not American Exceptionalism
    Spend more than we earn…….not fiscal responsibility
    Cut defense spending and spend more on social justice…..not peace through strength
    Tax the rich/successful more……..not encourage success and entrepreneurialism
    Divisive class warfare…….not “E Pluribus Unum”

    Folks, I fear that today’s electorate is the proverbial dog that caught the truck. They are not going to understand the consequences of their actions until it’s too late and the worst part of it is, there is nothing we can do to prevent this! We can preach until the cows come home. We are fighting against the times, the education system, the media, the New World Order.

    All we can do is look at our America as the Shining City on the hill that once existed. America will become the legend, like Camelot. Tales will be written about America and movies will be made. Songs will be sung and future generations will wistfully gaze up to the heavens as they privately (and perhaps secretly) muse about how wonderful such a place as America must have been. It’s a Camelot story and at the same time a Planet of the Apes tale. My grand-children will read that …………”….for one brief shining moment there was a place called Camelot/America”!

    Farewell, America.

    God bless the land that I loved!

    Unknown

    • don m

      very good info – to the points

    • oh oh

      Sad and true as it is, few will understand that the same insurgents that took control of the Weimar Republic and that are now in full attack against all Western culture have virtually won wit very few identifying them for who they are, even as our children are being indoctrinated and stolen from us right before their eyes. Many can see the problems, but few can, or will dare to reveal the truth about the perpetrators – the enemies of Western culture – for fear of offending the PC thought police in our government, schools, and churches.

  • don m

    Our US executive and legislative branches of government are wantonly violating their powers to regulate, tax, and encumber citizens! They’re within days of reaching four disastrous years of spending and looting without budget, plan, or accountability! Their crippling $6 trillion debt increases reached the $16 trillion limit, and now demand endlessly more! If it were a corporation, the SEC would shut it down and jail anyone who sold stock or wrote a check on it! They operate in a smoke screen of deception where truth, morality, fidelity, law and Constitution are literally scorned.

    They demand increased taxes or benefit cuts to a SSI TRUST FUND that citizens are currently taxed 7 to 20 times too much for the $1,235/mo they get… It’s spit in the eye! They add insult by admitting they take 2.8 worker ($450/mo) deposits to pay one retiree $1235, because there is no accumulated capital savings or wealth generation, and never will be any! The definition of this process is very clear in criminal law relating to trust funds and fiduciary obligations. If Madoff will die in prison, what’s appropriate for looting 315 million average $43.5K citizens who paid for $1.3 million benefits (65 to 78) … Its $413 trillion & almost $1.2 quadrillion if it takes another 2.8 taxpayer deposits to do it over a lifetime. If you want to argue about a 5% ROI, you deserve your credit cards and local tax increases that build factories for “global corporations”! You’d think union members and average workers would be tired being ripped off by SSI PLUS finding their other pensions are likewise looted!

    The resultant turmoil throughout the treasury, FED, and regulatory prohibitions has destroyed this once vibrant nation. Here they come again for many trillions more with whips and zero solutions!

    The solution is no more blank checks! What’s funded can be specifically defunded by prohibition. Defund every czar’s bureaucracy that hasn’t been confirmed by the legislatures. Defund regulatory agencies until congress specifically approves all fees, taxation, and any other restrictions on citizen individual freedom. Prohibit any benefits to aliens, with harsh prosecution for violations and require proof of citizenship. It’s time for good dems & repubs to dump Reed & replace him with a good old blue dog.

    Who cares if a crook blames you for his crime! Get rid of the crooks and there’ll be no crime! Truth and accountability works – PROSECUTE!

  • Boyd Sharp

    Dear House of Representatives: We keep hearing that you control the purse strings. Therefore, some of the blame for this out of control spending is on you. Enough is enough. Our credit has been downgraded. So why not default? Get the crash over with so we the people can begin cleaning up your mess. Quit spending my granddaughters’ future. We know you don’t have a pair, so go buy a couple of tennis balls.

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