Total Economic Collapse Just Around the Corner For U.S.A.!
US Government Quietly Adds $200 Billion To National Debt This Month Alone –Zero Hedge
“In the month of October alone, the US national debt has soared by nearly a quarter of a trillion dollars. This is pretty astonishing given that October is supposed to be a ‘good’ month for the US Treasury Department. The tax extension deadline means that October is usually quite strong for federal tax receipts. Yet despite being flush with tax revenue, the US government still managed to pile almost a quarter of a trillion dollars more on top of its already enormous mountain of debt. It’s always surprising to me how a story this monumental never receives any coverage. The government of the largest, most important economy in the world is completely, woefully bankrupt. And its rate of decline is accelerating. You’d think this would be on the front page of every major newspaper in the world. But it’s not. It’s shrugged off as par for the course, as if accumulating historic levels of debt is somehow consequence-free. And this complacency is what I find the MOST bizarre.”
Republicans Fall Into Dems’ Same Old Deficit Trap –American Spectator
“Recently liberals defined fiscal chutzpah by arguing high federal debt precluded tax cuts. This amazing new debt concern conveniently overlooks Barack Obama’s culpability in the calamity they now belatedly bemoan. It also implicitly sets a fiscal trap where liberals keep increasing spending and debt and conservatives can never cut taxes….Liberals’ new debt dodge is a clever trap for conservatives. Having dug spending and debt holes in the budget, they want conservatives’ tax cuts to fall into them. In power, liberals increase taxes, spending, and debt. Once out, they re-benchmark tax levels to the spending and debt levels they hiked. Such a course results in spending and taxes only rising….For the last eight years, America has seen the results of liberals’ fiscal approach of higher taxes, higher spending, and higher debt….Now after eight years of subpar economic performance, when Republicans seek to aid the economy by reducing taxes that are moving well ahead of historic averages – this is precluded by liberals’ deficits? Liberals’ concern for debt and spending is new, but their shameless cynicism is as transparent as it is consistent.”