That's not my opinion. That's the official position of the Congressional Budget Office in 2009, reiterating its warning in 2010, and repeating it last month.
Bill Gross, the world's most powerful bond investor, recently shed all U.S. debt from his $1 trillion-plus portfolio. He warns that "there is no way out" of the Democrats' debt trap and that American living standards are destined to plummet.Gross further states that interest rates will almost certainly rise much faster and much higher than official government projections. The amount of federal spending to service that debt, then, will be unsustainably high: "...these [federal] projections, which show an explosion in the amount of money needed to service our debt, underestimate the problem, since any decrease in economic growth resulting from higher interest rates — or any other cause — is not accounted for. Bottom line: This could be really bad."
The Medicare Trustees have repeatedly warned that their health care system is headed for "collapse".
Social Security, according to the Office of the Chief Actuary, will become insolvent years ahead of schedule.
And while the existing entitlement programs are headed for certain catastrophe, Medicare's Chief Actuary issued his own official warning: "[Obamacare] won't hold costs down, and it won't let everybody keep their current health insurance if they like it."It, too, is on an unsustainable path.
Billionaire Carl Icahn just returned nearly $2 billion to investors, warning of a 'renewed market dislocation'.
In other words, the support beams of the American financial system are splintering.
To the House leadership: what the hell is the matter with you? Afraid you won't get invited to the best cocktail parties? That you'll get snubbed by that idiot at Meet the Press? Who gives a flying crap!
The future of our children is at stake! Start fighting! The Left is destroying the foundation of this country -- the Constitution -- and it is destroying our currency. The full faith and credit of the American system hangs in the balance and you're whittling around the edges? What the hell!
$61 billion? When the budget deficit is $1.65 trillion? Cut a trillion! Refuse to raise the debt ceiling unless all of Obamacare is defunded! What do you have to lose? The entire system is headed for collapse! Is that reason enough?
Start fighting or we promise -- we pledge -- to devote the next 18 months to primarying your asses and defeating you.
Speaker Boehner, Leader Cantor and the rest of the you old guard Republicans: as a presidential candidate once said, "Get in their faces!"
Chart: Gateway Pundit.
Once again I think that most of us real Conservatives will feel like we are getting SCREWED by the Republican leadership. Don't these dolts understand how they got to their leadership positions by having the Tea Party dump the Spend-o-hypo-crats???
ReplyDeleteGrow a set republican leadership.
I could not disagree more...
ReplyDeleteThis is how we lose ourselves, so quickly, overwhelmed with emotive reactionary distraction.
If one thinks politicians will be perfectly doing all we want immediately, they should absolutely get OUT of politics.
If one studies the Reagan Era, even our Heroes made enormous mistakes.
It takes strong, patient, positive, sincere, encouragement - always resolved.
The "Delaware Fiasco" remains ripe with many. Many are eager to self destruct, just as we did after 2004 - which ended up with the likes of Pelosi, Reid, Obama in power (even gave us a fool like the Maverick as a GOP nominee).
Sorry Mr. Ross, it is way too early, way too harsh, way too negative, in my humble opinion.
The game is on, we are now winning slowly and will continue if we keep on the right track.
And I have watched this before, time and time again. I remember many Conservatives who jumped all over the Reagan Presidency in the Second Term - they even doubted the efforts in the Cold War. They were wrong. Many never managed, ran, governed anything. Others never knew what a mess it is like in Washington.
Please, do not unwittingly debase Our best interests yet again, on emotive - impatient reactionary jumps.
Slow down, win elections, empower the best possible, be reasoned, remain determined, stay focused, never lose patience, etc.
WFB could teach so many, so much...