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Milton J. Madison - An American Refugee Now Living in China, Where Liberty is Ascending

Federalism, Free Markets and the Liberty To Let One's Mind Wander. I Am Very Worried About the Fate of Liberty in the USA, Where Government is Taking people's Lives ____________________________________________________________________________________________ "Extremism in defense of liberty is no vice. Tolerance in the face of tyranny is no virtue." -Barry Goldwater-

Saturday, December 29, 2012

‘Fiscal Cliff’ Distracts As ‘Fiscal Abyss’ In Japan, UK and U.S. Cometh | ZeroHedge

As we listen to the mumbo jumbo nonsense going on in Washington, all led by a seriously deranged socialist that knows nothing about what he is talking about, the Prince will force through a completely useless tax increase declare victory and all of the chatterers will blather incessantly on how smart he is while the unsinkable Titanic continues to scrap against the gigantic iceberg that no one is even bothering to pay attention to.....
The U.S. federal deficit is now exceeding $1 trillion dollars every year —up from $161 billion in 2007, the last year before the financial crisis. Spending is up some $1 trillion, as outlays for Social Security, Medicare, Medicaid and other entitlements have increased by an amount equal to the entire 2013 military budget – a budget which may again surpass the combined military expenditure of every other nation in the world.

U.S. unfunded liabilities are now estimated at between $50 trillion and $100 trillion and by the end of the decade (in less than just 7 years), runaway entitlement spending will require shutting down the military or crippling many other vital domestic spending programs to head off massive deficits that will likely lead to a dollar crisis and significant inflation.
Or significant deflation. Democrats are Marxists and and Republicans are nearly as bad since they have not stuck to principles of sanity. I guess that Republicans think that they can compete with Democrats by trying to buy votes from the otherwise useless poor but they are mistaken, the poor and Blacks are brought and paid for. However, we all will have to face the folly of stupidity from Washington and people wanting to believe in the fantasy that Washington, collectivism and central planning can create prosperity. I fully expect that when this all blows up and creates a nation full of destitutes, that Democrats and the press will somehow try to blame Republicans again.

But if you read the article, Japan is likely to blow up first, and the UK will also probably go down, but that is like saying that we are better off since we are on the back of the Titanic.

‘Fiscal Cliff’ Distracts As ‘Fiscal Abyss’ In Japan, UK and U.S. Cometh | ZeroHedge


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