-ADY "A Regular Guy On The Issues"
A Great Financial ArmageddonMassive waste, fraud and abuse in Washington have brought our great nation to the brink of the abyss. A great national “day of reckoning” is now dawning.
The national debt now stands at more than $14 trillion; a debt load of nearly $187,000 for every family of four in the country. Every year, U.S. taxpayers fork over $400 billion just to pay the interest on that debt… even with artificially low interest rates.
Our national debt is now equal to nearly 100% of the value of all the goods and services produced in this country… and that doesn’t begin to include the estimated $110 TRILLION in unfunded liabilities for Medicare, Medicaid, Social Security and government pensions.
The Obama administration and Congress are running up annual budget deficits in excess of $1.5 trillion. The deficit during February 2011 alone exceeded the deficit for all of 2007.
The U.S. Federal Reserve is creating hundreds of billions of dollars out of thin air — and by doing so, gutting the greenback of its value and driving the cost of energy, food and other necessities sky-high.
The U.S. Treasury is borrowing so much money that the United Nations, the International Monetary Fund, the World Bank and leading nations including France, China and Russia are now demanding that the dollar be abandoned as the world’s reserve currency.
If they succeed, your cost of living could double or even triple overnight.The consequences of this gross negligence could be disastrous. If these trends are not reversed, millions of Americans will lose their incomes, their savings, their investments, their homes and will become utterly dependent on the government for survival.
While President Obama fiddles and Congress brags about miniscule cuts, there is no shortage of talk about how serious this crisis is.
- Recently, Senator Mark Warner (D-VA) told his constituents, “We’re approaching FINANCIAL ARMAGEDDON”
- Representative Allen West (R-FL) agreed, saying, “…the economic situation here in the United States of America is a FISCAL ARMAGEDDON.”
- And Senator Joe Manchin (D-WV) said, “we cannot ignore THE FISCAL TITANIC of our national debt and deficit.”
In an editorial published by Politico, the bipartisan group warned that unless the White House and Congress slash the federal deficit, bond investors are likely to turn on the U.S. and trigger an economic crisis that could “DWARF 2008.”
Think about what that means: In 2008, our entire financial system came within a few hours of collapsing. Huge financial institutions like Citigroup and Bank of America nearly went bust. And Lehman — one of the giants of Wall Street — simply ceased to exist.
Now, these top economists and Congressmen are saying that the fallout from this great debt disaster is going to be much, MUCH WORSE!”
And yet despite all their posturing, not a single member of either major political party is proposing — let alone passing — spending cuts that even begin to balance the budget.
Even the $100 billion in cuts the Republicans promised — but utterly failed to deliver — represents less than ONE-FIFTEENTH of the deficit for 2011 alone!
Meanwhile, thousands of U.S. towns, cities, counties and states are drowning in debt:
- States and cities are laying off police officers en masse. They’re putting prisoners back on the street because there’s not enough money to house them.
- Philadelphia, Baltimore, Sacramento and many other cities are laying off firefighters and emergency medical personnel, shutting down firehouses.
- Many states, including New York and New Jersey have refused to pay their pension funds!
- Illinois recently raised income taxes 67% and it’s still not enough to solve its deficit nightmare.
- Also in Illinois, pharmacies have closed because the state failed to make its required Medicaid payments, state employees are being evicted from their offices for nonpayment of rent.
- Arizona is so desperate it SOLD its state capitol, Supreme Court building and legislative chambers and now leases the buildings from their new owner!
Take a stand with us as we fight to bring America back from the brink of what may well be the most severe economic catastrophe in our history:
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