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Tuesday, December 11, 2012
America is Broke
This morning, a widely distributed quote by U.S. Speaker of the House John Boehner has been circulating. "Let's be honest", says Boehner, "We're broke". Boehner, who looks like his dog has died, has been lamenting the slow shuffle Barack Obama has been doing in avoiding the so called, "fiscal cliff". The president insists on new taxes particularly for wealthy people, but refuses to cut any expenses. It's as if the president intends America to go over the "fiscal cliff" and then come to him to rescue them. Obama and Boehner have meetings, but it has become clearer and clearer that Mr. Obama has no intention of compromising sufficiently in order to avoid a closing down of the federal government.
Why should we care ? Without some type of a budgetary arrangement, our military will not be paid. Those who work for our government may well not be paid. Those who need an immediate passport may not get one. American stranded in foreign countries who need State Department assistance for some reason, will not get this help. (Yes, they used to)
If you ever had any doubt at all, the captain running the ship not only has no weather station, but he got his captain's paperwork from the boxtop of Post Sugar Crisp. The voracious and foolish printing of money by the Federal Reserve was one thing. His intent here can only be to create uncertainty, grief, turmoil, stock market volatility, and more people who must depend upon the government for assistance.
Now is the time to pay off any debts you can. Stock emergency food and supplies, and watch carefully. The possibility exists that our country as we have known it, may not come through this.