28 February 2013

Deficit and Debt

Let's not forget what caused this debt/deficit. When Bill Clinton left office there was a surplus which was projected to pay off the DEBT, not the deficit, by 2015...which would have meant no interest payments (which eat up much of the USA's budget each year...151 billions of dollars this year alone)...what happened? Alan Greedspan said we should not have a surplus (you can't have a 'surplus' when you have debt, Alan) and encouraged GW to enact extravagant tax cuts...and then...how GW reacted to 9/11, unfunded, unnecessary wars, Part D Medicare (unfunded), crony capitalism with no bid contracts to the likes of Halliburton (who then moved their headquarters to that bastion of freedom, Dubai)...

People need to screw their heads on straight and look at the USA as it has been, not how they dream it is...let's straighten this mess up, run surpluses again and pay off our debt.

I like Ike...the marginal top tax rate during his Presidency (which saw a burgeoning middle class) was 92%...yep, and no capital flight to speak of. Growth...


I didn't even mention the crisis which was caused at the end of GW's tenure...which has driven the entire world into a tailspin. Both Great Britain and France have had their financial ratings dropped below AAA status...that leaves only Germany and Canada as the two remaining AAA rated economies.

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The River

upstream from white sand beaches are hamlets, paddies and canyons bombshells unexploded, cratered land, cratered faces  mangled extremities...