We can not exist as a solvent nation with an outstanding loan of $13+ Terra Dollars borrowed over the next ten years. We will go bankrupt. And, that is what the Socialists plan to do.
Obama & Company last week pulled a typical socialist slight of hand by moving to plunge the government into an alarming deficit while deflecting public attention away from that and towards… towards AIG bonuses that are legal and binding per legal contracts that Tim Geithner, Obama’s Secretary of the Treasury was responsible for by his approving of it back in 2008.
That Geithner says he didn’t know about it till just recently showcases Geithner’s glaring Incompetence or that he is a Liar or both.
Now… last week was important folks, not for legal contractual bonuses for capitalist executives, rather for the unconstitutional attack on people who received the bonuses.
I expect a challenge in the Supreme Court if Congress passes a bill to deny any or all legal contractual bonuses of employees of businesses that have been nationalized in part or in whole.
That bonus attack action is an Obama slight of hand to deflect attention from the real problem Obama and Company is creating for America.
What is the real issue? Obama’s 2009 and 2010 deficit jacking budgets and the deficit jacking projections from Obama’s economy destroying deficit spending orgy.
The obvious (to me) Obama & Company goal is to bankrupt the government in order to stage a complete socialist take over per the Pevin – Clown Strategy of destroying a capitalist based society and waging weath spreader class warfare by the redistribution of wealth via the Obama Pigzilla Porkathon Spending Orgy.
Watch the numbers of the deficit under Obama’s plans and goals and watch his tactics to get his way.
Lies, denials, deflections of attention are all part of the Obama play book and Obama forges ahead like a run away freight train hell bent on a Socialist takeover.
Obama is refusing to veer from his mega-deficit creating spending spree of over $13,000,000,000,000.00 ($13 Trillion) dollars over the next ten years. That is over $13 Terra Dollars, $13,000 Giga Dollars, $13,000,000 Mega Dollars, $13,000,000,000 Kilo Dollars.
That $13+ Terra Dollars of borrowed money, if divided by the population of 320 million Americans, is a debt owed by each man, woman and child living today of over $40 Thousand dollars that must be paid back to China and the other lenders of the money.
That $13+ Terra dollars is BORROWED MONEY!
Because it is borrowed money, the interest payment yearly, via collected higher taxes, on that loan is $780 Billion dollars a year at 6% simple interest. It is not free money and taxpayers are stuck with the interest payments and additionally paying down the principle. WOW!!!!!!!!!