Posts Tagged spending
The Dollar’s Inevitable Demise
Posted by Bruce Kaskubar in analysis, columnist on May 4, 2010
Vasko Kohlmayer writes about our national debt at American Thinker. An excerpt:
The White House Office of Management and Budget estimated that at the end of 2010, the national debt will breach the $14 trillion mark. This means that America’s sovereign debt will soon equal the annual output of our economy. History shows that most governments that reach such levels of debt are ultimately unable to contain them. In most cases, this leads to the disintegration of the country’s monetary regime and the collapse of its currency.
While I agree with Mr. Kohlmayer’s economics, I disagree with his believes that our nation’s collapse is inevitable. Inevitable means it’s too late for hope and change; that we may as well bend over and kiss ourselves goodbye. Our spending is completely out of control. The Obama/Pelosi/Reid spending is a completely different phenomenon than Bush 43’s. It is not too late but we have to make big moves, soon.
Removing members of Congress that believe in programs such as government stimulus, cash for clunkers, cap and trade, increased government health care, emboldened labor unions, and constricted job makers is the right way to start.