America is bleeding from the JUGULAR
[T]he deficit will begin rising sharply in the next decade, perhaps as early as 2011, when the first wave of baby boomers hit 65. And it will require real political courage to stop the hemorrhaging.I'll say. The last president who had the balls to do something 'to stop the hemorrhaging' got his brains blown out.
By 2026, the Congressional Budget Office projected recently, the federal debt could equal the nation's annual economic growth, if nothing is done. At that point the INTEREST on the debt would begin to explode, so that it becomes stifling to pay off.Any IDIOT can see that. It takes a corrupt one, however, to stand there and let it happen.
David Wyss, chief economist at Standard & Poor's, a major credit-rating agency, said U.S. government bonds would achieve junk-bond status by 2026 if changes are not made.
Why wait until 2026? Let's junk them NOW and save tons of interest!
Under his proposal, Bush would trim about $36 billion from Medicare spending over the next five years.
We're bleeding from the jugular and Bush wants to chop off our limbs and throw our sick and elderly to the sharks. But, that's not enough.
The Medicare proposal "pushes the envelope, but it's a very small envelope," said Rudy Penner, a former economics adviser to President Gerald Ford and once the head of the Congressional Budget Office. It illustrates how much austerity would have to be imposed on the American people, he said, in order to bring the deficit under control.Once our blood's in the water, there's no turning back.
Wyss said Congress and the White House essentially have five years to come up with a real program to deal with future deficits and avoid future harm to the economy.
Who needs five years? My plan can be implemented immediately in TWO easy steps. Print interest-free bills, throw bonds in garbage. Presto! We have our lives back.
So, they persuade their people to die young. And you should, too!
Other major countries, those in Europe and Japan, face similar problems in dealing with the higher cost of elderly populations, he said.
"Printing more money to solve the problems is not the solution," he said. "Germany tried that in the 1930s. It didn't work."Not if we start from scratch! Issue new bills and VOID all those phony obligations that you and your partners in crime swindled from us through fractional reserve banking at INTEREST!