The time has come. US government is facing an unprecedented wrath and angers of the citizens all across the states because of the reckless spending and runaway deficits they cannot afford. US debt is already reaching an astronomical $12.1 trillion dollars and yet the government is considering to raise its debt ceiling to an astounding figures of $13 trillion proposed by Treasury Secretary Timothy Geithner.
Is this sustainable? Where does the money going to come from? Apparently, they are going to borrow from the biggest creditors in the world like China, Japan and Asian Banks or to increase the burden of its own taxpayers. The problem is - those creditors have gradually losing confidence in US dollars and they are slowly dumping US securities in exchange of foreign reserve currencies and commodities like gold and silver. Therefore, the value of US dollars will go down dramatically and leads to massive inflation.
In fact, they have been repeating this same old process of money printing, borrowing, and taxing for few decades already in the past. America, living in what is called the richest nation on Earth, seem to be always short of money. What a joke. In reality, America is broke and bankrupt and waiting for the help of other countries and if the creditors resist to borrow, it turns to its own citizens and the ultimate money printing press Federal Reserve also known as the "lender of last resort". As vice president Joe Biden said, "if we don't keep spending, our country will go bankrupt." But how can reckless spending leads to prosperity? That's a mirage or maybe it's a philosophy advocated by the Keynesian economics model.
Despite of the $700 billions TARP bailouts, Wall-streeters continue to reap billions of bonuses like the crisis never happened before because they were "TOO BIG TO FAIL"! Not only they didn't get hurt by the crisis, but they got a free ride on the windfalls in the expense of the taxpayers' money, let alone bankruptcy. This is totally unbelievable and unacceptable. That is why Americans are so angry now that they do not want to let the government to run any social programs like the health care reform which has the price tag of $1-$2.5 trillion dollars. Enough is enough. They are bringing their furies to Washington, DC on 12th Sept 2009. Tens of thousands or perhaps millions of America citizens will protest against the US government to stop their reckless spending behaviours. Otherwise, they will reboot the whole US Congress in no time and there shall be a revolution! The world is watching. God bless America!
"When the people fear the government, there is tyranny; When the governments fear the people, there is liberty." -Thomas Jefferson
Taxpayer March Promo Videos
September 12th, 2009 - Will you be there.
An Invitation: Taxpayer March on Washington DC - September 12th!
No comments:
Post a Comment