The Legacy Of Debt That Threatens To Destroy America »
Posted By Revelation1412 8 months ago in NewsTwo more U.S. banking chains have failed. Federal authorities have closed down Franklin Bank, a Houston bank with 5.1 billion dollars in assets, and Security Pacific Bank of California, with assets of 561 million dollars. So now the total number of major bank failures in the U.S. this year has reached a total of 19. Are we starting to get the hint yet? Things are bad.
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Revelation1412
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CHAM8 months ago
Revelation. Thanks for the post. Middle America did not run up the debt. Our Government ran up the debt in our name. A good example is the Social Security quagmire. Money based on Actuarial basis has been collected every payday from America's workers to pay the future liability.
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A prudent policy would have been to have a set aside investment of the collected money. Instead our Government collect the SS money placed it into the General Fund and wrote IOU's to the SS fund. Well those IOU's are what my Government owes me! And it absolutely is an Entitlement Program. I didn't have any choice to whether they took my money or not. Now that Government is trying to renig on the money they owe me and trying to put the blame on the loose borrowing of Middle America. Notice that those who profited from the money taken from me were friends and family of those who had stewardship of the SS fund. Shame on them. They should all be sent directly to jail never to get out. Now that's something I would pay some extra tax for. -
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nostalgia8 months ago
Won't happen. Too many people vote based upon the "letter" after a candidates name
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nostalgia8 months ago
"There was a surplus before Bush"
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There was NO surplus
It was an inside the Beltway accounting gimmick. The Social Security surplus was counted in the general fund. Without counting the SS surplus, the budget was in deficit
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nostalgia8 months ago
I know someone who works at the General Motors Arlington Texas Assembly plant
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They are working overtime. Guess what type of vehicle they make - SUVs -
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gamahuche8 months ago
Quite terrifying!
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Its basically been a shell-game for a long time though.
It used to be said that when America sneezes [insert name of country/area] catches a cold.
What is the saying when the US catches double pneumonia?
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