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Dear sir I am afraid you may want to put away the "record deficits" claim

By Douglas Smith posted 03-22-2009 23:55

  
    Has anyone see what was done on friday? 1.15 trillion dollars printed by the treasury to purchase toxic securities based on the bad loans stimulated by rule changes allowing higher risk individuals to get home loans all in the guise of being compassionate. Who secured this 1.15 trillion? Nope, not the Chinese which already owns approximately 40% of our debt. We did it! Wait, I thought we didn't have any money. Oh, thats right we don't. How does that work?. We promised to pay ourselves back with an IOU to ourselves even though we don't have the equity to secure the iou not only to ourselves but to the foreign holders of our current debt.  President Obama said on 60 minutes to do this we need other nations to continue to buy our debt. The Chinese at the World Economic Forum said they were thinking of not continuing to purchase our debt. Hillary Clinton rushed right over to the Chinese and begged them to continue to buy our debt. This is insane. True both sides have both participated. This however doesn't justify the issuance of over 3.6 trillion budgets and latest nunbers showing even worse defecits coming. We will double our debt in the next 5 years and triple it in the next 10 years with an estimated 20 trillion in debt in the near future. CBO estimated an additional 2.3 trillion deficit than was planned for in Obama's budget. Oh, then we have the baby boomers, the most selfish group in world history likely next to the future spoiled one child family they and their nanny's raised. This is stinkin crazy. Please lets take off our donkey and elephant costumes and decide neither of the circus performers have helped or practically killed us as a nation. We are doomed if we don't make changes whether we wear blue or red. So instead of continuing a myopic view and pushing for national healthcare lets work to stabalize our nation fiscally and then work on things we can afford. Yes, hard changes are here and both sides will have to give alot. Just a thought from Ukraine where I have visited twice in the last year. Socialism/Communism doesn't work.  I have helped take care of those now suffering the aftermath of communism and it is horrific. We don't want this fate.  
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