Thursday, April 1, 2010

Nobody will bail out America

Regardless of the Stock Market bubble and the reports that “attempt” to paint the economy in a favorable light, financially we are close to the tipping point from where there is no return.

America's swelling long-term debt, which is increasing daily, is close to passing that point, the "tipping point" that could trigger soaring interest rates and a plummeting dollar, that could trigger a "global depression," and we are about there!

The U.S. is facing $50 trillion in unfunded liabilities and around $62 trillion in total long-term debt, how can we pull out of the maze this administration has created? Simply we can’t!

What's ultimately at stake, Americans' faith in government and our standard of living!

Both may collapse unless we can find some 12 million jobs immediately, and that likelihood of that is untenable.

America has reached its pinnacle. We cannot assuage this tremendous debt this administration has burdened us with unless we have a tax base, but a realistic tax base. That means getting America back to work.

Even more importantly, these extravagant wars of choice are draining the economy, and financed through deficits, but enhancing the large corporate structure that surrounds the military Industrial War Complex.

Since 2001, to date, the total cost of war that has been allocated by Congress is $1.05 trillion, with $747.3 to Iraq and $299 to Afghanistan. The numbers include both military and non-military spending such as reconstruction.

These expenditures include only incremental costs, those additional funds that are expended due to the war. For example, soldiers' regular pay is not included but combat pay is included. Potential future costs, such as future medical care for soldiers and veterans wounded in the war, are not included. These numbers do not account for the wars being deficit-financed or that taxpayers will need to make additional interest payments on the national debt due to these deficits.

But the war is a hands’ off topic, even aware that these wars of choice have made America and Americans and the World less safe.

When Obama took office he had a choice, a fork in the road, to the right were initiatives to put America to work, to end these wars, and make peach in the world, and to the left was health care, although both were a necessary goal the agenda should have involved each road, and not just the one to the left. While congress and the President invested a full year attempting to author a Health Care Bill, that has already met with challenges and surely will fail, America still requires jobs, and an end to foreign hostilities.

But even more, aside from needing jobs, Americans require help to retain their homes.

While the government bailed the Banks out, it left Main Street America to fall on its face.

30 million Americans are underemployed, another 9 million are unemployed, The Bank REO’S are estimated to be around 7 million, with another 7 million in default and another 15 million potentially ready to walk away. Bankruptcy’s are at 6,000 a day and business failures remain on the rise, and in the end we as a nation have lost faith in our own government, both in its integrity and its ability to solve the issues facing all of us.

In the final analysis, the entire globe is in a similar state, there is no nation that has the ability to bail out America when we fall.