youtube.com — The US Comptroller, the government's top accountant, says the US is risking total bankruptcy if trends continue on 60 minutes segment. The nation incurring a massive debt on the next generation with its present policies. In 30 years time, the US will only have enough money to pay the interest on its debt, with no money for the military.
Aug 27, 2007 View in Crawl 4
thecoolestguyAug 29, 2007Submitter
Ron Paul doesnt actually want to go back to an asset-backed currency, he simply wants to let gold and silver compete with fiat currency as legal tender, thus forcing government to restrain monetary inflation. He also wants to end the federal reserve system of monetizing debt, which would stop government from being able to borrow money at will.
thecoolestguyAug 29, 2007Submitter
You know what? Healthcare shouldn't be provided by the government. People should be responsible for themselves, and if someone wants to help them, they can give to charity.
akbryant54Aug 29, 2007
The fed does nothing but bad for our economy, our inflation rates have gone up non stop since it was introduced, and the purchasing power of the average American has been reduced, only one generation ago you could buy a loaf of bread for a quarter. The fed attempts to know what the economy is going to do, but we need to accept that economics is a very abstract subject that no expert on the planet can predict with 100% certainty, it's better to not meddle in it and leave the market to its own devices.
thecoolestguyAug 29, 2007Submitter
China is profiting tremendously from all this. Western corporations are pouring billions building manufacturing assets in China, and letting western technology transfer to Chinese corporations.
aluzeAug 29, 2007
No worse than slapping on another wasteful department or pushing another mis-titled "everything becomes wonderful and happy" bill through congress and having it magically fixed, either.
thecoolestguyAug 29, 2007Submitter
**This is why you should look askance at any political system that relies on "the people" or some other nebulous, invisible force to regulate power or what have you.**Libertarianism relies on laws intrepreted by judges and enforced by police to prosecute and deter acts of coercion.Every form of government relies on the "the people" to regulate power since people make up the politicians, including in democratic socialist governments.
brad3378Aug 31, 2007
>Wake up people, there's a big hole over the horizon, whatcha gonna do?Start dating Paris Hilton?
ohio1965Aug 31, 2007
poor kid... well keep on babbling while the Titanic is sinking (after all they said it was unsinkable!!)
Closed AccountMar 7, 2008
...yeah, raise the retirement age so that your average black worker gets -4 years of retirement..
syndicfailliteAug 11, 2008
Let's hope we get out of this credit crunch soon. Else we'll all need loads of bankruptcy trustees like this one - <a class="user" href="http://appel.ca">http://appel.ca</a>