Wednesday, March 3, 2010

The USA heading for poverty

Senator Jim Bunning from Kentucky in the United States is said to get old.
And with age getting more difficult to reason with.

What has the old man done that he is seen as an old fool?

The US Government wants to spend $ 10 billion to maintain unemployment benefits for the long-term jobless and to provide stopgap funding for highway programs.
This while the US Government has a debt of
That is 12 trillion Dollars, ladies and gentlemen.
A US national debt that is rising with $ 3.96 billion per day.
Each US citizen has a share of this debt amounting to $ 40,638.40

The only thing Jim Bunning was asking was how the US Government was going to pay for this $ 10 billion while having an enormous debt.
And that makes sense.
If you are in debt for over $ 12 trillion, where are you getting your money from to spend another 10 billion?
Knowing also the 10 billion serves as a stopgap.
According to Senate Majority Leader Harry Reid, D-Nev., a $100-billion-plus measure is needed to provide a longer-term extension of unemployment benefits that would last through the end of the year, along with a full-year extension of higher Medicare payments to doctors and help for states with their Medicaid budgets.

The message Jim Bunning is sending is that the US Government must stop spending by just adding to the national debt.
He is saying that the money has to come from somewhere else.
From within the budget the US Government has available.
Keeping in mind what Cicero said 106 years before Christ: "The budget should be balanced; the treasury should be refilled; public debt should be reduced; and the arrogance of public officials should be controlled."

The rule should be that if the US Government wants to spend $ 10 billion it must look in the budget where $ 10 billion will not be spend.
The playing field is by what taxes bring in.
Additional excessive borrowing brings a country in a downward spiral and eventually economic misery for its inhabitants to have no more prosperity while pushed into deep poverty.

For years and years now the US politicians and the US people have been living on a financial scale that is not sustainable.
Spending and spending and borrowing and borrowing.
A collision course that is going to bring the country and its inhabitants eventually in a terrible and dramatic situation of devastation and decay.

But few people in the United States want to see this.
Blinded as most are by spending, spending, having, having, consuming, consuming.

Take Maine Senator Susan Collins, a Republican.
She said of her fellow party member Jim Bunning that he is hurting the American people by asking to finance the $ 10 billion from within the budget.

And that is the thing.
If the money is borrowed and the debt made go up, politicians are not hurting the American people.
But if one shows insight, intelligence and concern for the next generations of Americans, the person is against its people.

As long as this mentality is dominant, and it is, the blinded and the stupid are in control.
And the price eventually to pay will be extremely high.

The $ 10 billion could have been easily found inside the Federal budget.
The United States is spending over $ 607 billion annually on their military.
41.5 % of what is spend worldwide by all countries.
Over 4 % of the GDP.
Twice as much as countries like France and three times as much as countries like Germany.

Wouldn't it be better for the United States to stop all this international warring to first clean up the financial mess at home?
And to start taking serious persons like Jim Bunning?



Maxcactus said...

Michel, the US is ruled by the military-industrial complex. Stopping military spending and ending the empire are not at all likely. We need to revise how we provide health care in the US, but the medical industry holds too much power to allow that. We need to rethink the transportation policies of the nation but the auto producers, trunking industry, and others in cooperation will kill anything that affects how they make their money.

Anonymous said...

"10 points Michel. Great analisys. "
Sebastian, Barcelona.

Anonymous said...

"I think the gov is a reflection of it's people and we run on the HOPE that we will get by; that next year will be better if we can just hold on... through unemployment benefits. It is tremendously hard to change one's spending habits; so we will put it off, even deny the problem. Spending is exciting
if your goal is to create the worlds finest military... well huh.. Maybe we need to join a EU of shared military might directed by a tough UN. It looks from here as though the richest nation gets the best military and gee communist China might be next; funded by all those unstoppable American household spenders! : )"

Dale, Co., USA