Saturday, July 23, 2011

The National Debt Ceiling Is Not The Real Story

While the media and our elected Representatives are focused on raising the National Debt Ceiling from $14.3 trillion to who knows what just so Obama can make it to the next election in 2012 and continue buying off his PEEP's, presumably to get re-elected, what is lost in the discussion is that the United States currently has more than $14 trillion in official National Debt.   There is another $50 trillion in unofficial debt to deal with the promised benefits of Medicare, Social Security and government pensions, not to mention Medicaid and ObamaCare, which will add even more. 

Forget about the National Debt Ceiling.  In fact, it would probably good if the US Credit Rating is downgraded by the rating agencies because just maybe it will shake our elected representatives into doing what is necessary to prevent the bankruptcy of the United States.  Right now, there is no viable plan in place to begin paying off the $14.3 trillion debt on the books let alone dealing with Social Security, Medicare and federal pensions.  Our current National Debt is fast approaching 100% of annual US Gross Domestic Product.  In other words, the Debt is equivalent to all the good and services produced and sold in the United states each year.   We have reached fiscal insanity.   Though a downgrade of the US credit rating would be very painful causing higher interest rates and a likely stock market crash in the short term, in the long run it might be just the medicine needed to force Washington politicians, including Socialist President Obama, to face reality.  Obama needs to "eat his peas"; but instead he continues living in a dream world where trillion dollar deficits don't matter.  By the way, this Blogger loves peas. 

The fact is that trillion dollar deficits do matter to the capital markets that will soon cut Obama off.   Like junkies on a crack habit, Obama and his Socialist pals in Congress will be forced to go cold turkey because at some point the capital markets won't be there to bail them out with more borrowing.   It is time for our country to take control of our destiny because if we don't, foreign countries will dictate our fate as is happening in Greece and Ireland.  If that were to occur, there would be civil strife on our streets.   We can't let that happen. 

So as we watch the theater in Washington concerning raising the National Debt Ceiling,  all should know that this is not the important story.   The real story relates to the National Debt itself and unfunded liabilities for Social Security, Medicare and federal pensions.   This is the nuclear time bomb that will explode on the American people in the years ahead.   Unfortunately, it is likely to take a complete financial collapse before our elected Representatives and particularly Socialists will do what is necessary to preserve and protect our nation.   And even then, Socialists, including President Obama, may be completely incapable of getting our fiscal house in order because they are owned lock, stock and barrel by their PEEP's, those that pay no income taxes at all, those on the dole, illegal aliens, public employee unions and favored industries that contribute to their re-election campaigns.  In order for Socialists to get our fiscal house in order, they would have to cut off their PEEP's, those that continue feeding at the trough, that vote for Socialists.  Any one want to take bets that this will happen anytime soon.  

Since it is not likely to happen, the choice is simple, sweep these Socialist out of office in 2012 and 2014, or experience the bankruptcy of the United States.   We can't let that happen.   We have to take back our country in 2012 and 2014 to prevent bankruptcy and resultant economic chaos.   We can do it.   We must do it to preserve our freedom, our nation and way of life for the sake of our children and grandchildren.   In the end, the story is not about the National Debt Ceiling; but rather the National Debt. 

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