Independent Christian Voice

Tuesday

USA Today: 'Fiscal hurricane' on the horizon

From USA Today:
The comptroller general of the United States is explaining over eggs how the nation's finances are going to hell. "We face a demographic tsunami" that "will never recede," David Walker tells a group of reporters. He runs through a long list of fiscal challenges, led by the imminent retirement of the baby boomers, whose promised Medicare and Social Security benefits will swamp the federal budget in coming decades. [...] Walker's not the only one saying it. As Congress and the White House struggle to trim up to $50 billion from the federal budget over five years — just 3% of the $1.6 trillion in deficits projected for that period — budget experts say the nation soon could face its worst fiscal crisis since at least 1983, when Social Security bordered on bankruptcy. Without major spending cuts, tax increases or both, the national debt will grow more than $3 trillion through 2010, to $11.2 trillion — nearly $38,000 for every man, woman and child. The interest alone would cost $561 billion in 2010, the same as the Pentagon. [Read entire article]
Not to worry... the fiscal conservatives are in charge now. What's that you say? They've been in charge for the last five years? Was this part of the plan all along (like Grover Norquist's agenda of creating the beast and then turning around a starving it)? Since Bush has taken office, spending has been out of control. The GOP likes to blame the War on Terror for these record deficits. But they fail to tell you that their fiscal policies, above and beyond the war effort, are dramatically ballooning our national debt faster than ever before, with lavish pork projects and monumental tax breaks for the "haves" and Corporate America all during a time of war. Now that they've had their unbridled fun, the American taxpayer is about to get screwed as they look for ways to cut spending to reduce the deficit. Remember that fact as you head to the polls 12 months from now. Why does it take a crisis for Americans to actually pay attention to what the current national leadership has done and is doing to America? The first election of this president (and his minions in Congress) was a "fool me once..." experience. The re-election was a "fool me twice..." experience; shame on you, America! You're about to get what you voted for — a royal reaming up the ass.

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