Saturday, September 7, 2013

Do you really believe they’re going to pay off this debt?

vinsuprynowicz.com ^ | 6 June, 2010 | Vin Suprynowicz

If I invoke the phrase “Greek debt crisis,” do your eyelids start to grow heavy?
Do you somehow find it difficult to summon up a fresh wave of outrage if someone mentions that when Barack Obama’s National Commission on Fiscal Responsibility and Reform (better known as the Democratic Tax-Hike Justification Front) convened for its second monthly meeting last week, Congress was already 41 days past its April 15 deadline for passing a budget resolution — scared to death to admit, in an election year and the third year of the Second Great Depression, just how much new debt and spending they intend to crank up?
(snip)
No, if you want to get the U.S. government off the borrow-and-spend treadmill, there’s only one answer: default.
You only have to win one election, at which point you declare Social Security, Medicare and Medicaid all bankrupt and closed; in default. You believed the promises of those lying politicians? Your problem.
You own U.S. bonds? Tough. The politicians lied when they said they had the power to make succeeding generations pay their debts; we’re defaulting. You don’t get another cent.
Presto: Half of those “mandatory” federal expenditures are gone, overnight. NOW slice everything else by two thirds (that’s a “net” figure — the “Department of Agriculture,” the “War on Drugs” and the “Firearms and Explosives” tentacles of the BATFE would immdiately be reduced to zero, of course), and you’ve reduced both federal expenditures AND FEDERAL TAXES by 80 percent.
But here’s the best part. Four, six, eight years later the pendulum swings, as it always does, and the socialists come back to power. They go back to the folks who used to loan money to Uncle Sam, saying, “Hi, Remember us? We’re the compassionate progressive collectivist redistributionists, and we’re back.
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