Ladies and Gentlemen The United States is Insolvent

[jschurchin]

http://jessescrossroadscafe.blogspot.com/

You don't have to be a financial wizard to realize that we are indeed, FUCKED.

[monmouth]

1. Thank you George W. Bush et al....n/t

[notesdev]

6. Presidents have little to do with it

All expenses are authorized in Congress (the House specifically), so it's the various Congresses (and especially the leadership thereof) over the years who have primary responsibility. The other half of the equation is the Federal Reserve, the financial wizards who have managed to devalue the dollar by 98% in under a century.

The elites geared the economy to serve the elites - and now that's ALL it does - while our representatives either stood by and did nothing, or actively collaborated. Both parties are up to their necks in this one.

[fasttense]

2. That's what happens when you give hundreds of billions of tax dollars

to the uber wealthy.

Hoover tried it in the 1st Republicon Great Depression and it didn't work to avoid the depression.

Now, the bushes and Obama have tried it. Guess what? It didn't work a second time either.

Now we have less money to spend on things that actually do work.

[indepat]

4. The staggering debt was fueled by the Gipper's voodoo economics

:D

[PassingFair]

5. But, but...they CAN'T go DOWN.....

:puke:

[FiveGoodMen]

8. We should take that money back.

[Why Syzygy]

9. About 10% has been repaid so far.

$68 Billion. The gamblers used the stake and got their piles high enough to pay back the marker.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=114&topic_id=71387&mesg_id=71387

[FiveGoodMen]

10. They've been shifting wealth from the lower and middle classes to the rich for three decades

And they've destroyed our economy in the process.

They did it by bribing Congress, rigging games, and just plain cheating.

I'm suggesting that we take back a whole lot more than what we've just handed out in the last year.

[Why Syzygy]

11. I'm in favor of that.

We should take a baseball bat to their knees. Non violently of course.

[FiveGoodMen]

12. !

:rofl:

Non-violently ... of course!

[ProleNoMore]

3. Validates What Many Believe To Already Be True

eom

[girl gone mad]

7. k & r..

for Jesse's excellent analysis.

[Warpy]

13. It has been for years, between the balance of trade

deficits and Republican profligacy.

The way to solvency is reinstituting a progressive taxation system that takes the country's wealth back from its plutocrats together with cutting the Pentagon budget until it's in line with what other countries spend.

Scraping money off the top is essential if we're to do what really needs to be done, restart manufacturing here for local consumption.

Our system of plutocratic looting had a finite life span. It's at the end now and all that's left is for the brick wall to fall on Congress so it starts doing the right things.