Sunday, January 24, 2010

Things a politician will never say

In the house of the wise are stores of choice food and oil, but a foolish man devours all he has.
Proverbs 21:20 (NIV)

Save for the future, do not live for today at the expense of tomorrow.

The rich rule over the poor, and the borrower is servant (slave) to the lender
Proverbs 22:7 (NIV)

When you are in debt, the lender calls the shots. If you are an individual, this could be a friend, parent or grandparent, bank, or government.

When you are a nation, the Master is whomever holds your bonds - especially whomever holds the majority of the bonds in circulation. In the event of a default, there will be a reckoning.

The United States Fiscal Year Budget for 2010 is $3.5 Trillion dollars. Of this sum, fully HALF is additional debt. Compare the FY2008 outlook letter from the OMB with the President's transmittal letter for the budget for FY2010. Notice that nowhere listed in any of these is the fact that we are a debtor nation which is fiscally broken, and who owes our very financial existence to China and the Arab nations which hold the bulk of our debt.

The President can decry the "inherited deficit" all he wants to. The enablers in the media will broadcast it without question. The facts are that over one trillion dollars of that deficit was stimulus funds and budgetary pork for special interests, all of which had to first be borrowed or confiscated from producers in the first place. Even so, his current budget exceeds the deficits of FY2008 by an additional $1.3 trillion without TARP and Stimulus moneys.

It is almost like he is intentionally trying to crash the economic system...

I hope you have choice food and oils stored up.



1 comment:

Old NFO said...

I've got salt, sugar, coffee and Tabasco... I'm good to go!