Debt bombs are currently detonating in Europe. In Greece, the debt bomb has detonated. In Spain, it's massive debt bomb is currently in the process of detonating.
Problems in Spain: Revenues Collapse, State Spends Nearly Twice as Much as Revenues Collected in First Half
100,000 Workers in Spain Will Not be Paid Because Regional Government of Catalona is Broke
Italy and Portugal aren't too far behind Spain and Greece. USNew just reported that the federal deficits are the highest since the 1940's, here and also stated "In every second of 2011, for example, the government spent $114,253—even though it was only taking in $73,043 in revenue. According to Face the Facts, that means the federal government spent $41,210 every second that it didn't actually have."
Think about that. The federal government is spending $114,253 per second on revenues of $73,043 per second.
What makes us so different from Greece and Spain? We aren't and what is happening elsewhere will happen here in America to the American people. It's only a matter of time and time is running out.
First article you've written that makes sense. Oddly, all your other articles sound as though they came from a Euro Socialist. And in this article you sound like a GOP fiscal conservative. There may still be hope for you. LOL.
ReplyDeleteAllen, I'm not a Republican. I'm not a statist or socialist either. I don't vote Republican or Democratic - just mostly Libertarian, although I used to vote R until I realized the truth about the Republicans. I've never know a Republican who wasn't a socialist, a warmonger, a statist and an oppressor of human liberty.
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