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Posted by t1gercat on 03/23/07 17:48
On Mar 23, 7:03 am, "Useful Info" <useful_...@yahoo.com> wrote:
> Congress Sets New Federal Debt Limit: $9 Trillion
>
> Full story here:
> http://muvy.org/
Just a point: We're in all that debt because we've deferred taxes, not
cut them or eliminated them, just deferred them. Bush's "tax cuts"
were taxes deferred, put off for payment later. The gap between
revenue and expenditure is filled by borrowing money. Prior to this
era, borrowing money wasn't such a bad thing. Almost all of the debt
was held by Americans, so it was money we owed ourselves. Today,
however, a big proportion of the debt is held by foreigners, Chinese,
Japanese, Europeans and Middle Easterners. This means that when we
finally do get around to paying back those loans, i.e., paying our
deferred taxes, we'll have to pay WITH INTEREST to people who are our
economic rivals and in some cases our military rivals.
Among all the destructive things the Republicans have done, this rates
near the top. The useless, very expensive wars are being financed
through this borrowing, so we're not even getting the residual
advantage of borrowing to create new infrastructure or to make our
people healthier and happier. Instead, we're borrowing to make people
miserable and to throw funds at the insatiable maw of an endless
police action. If any group were to plan to bring down and humiliate a
great and wealthy nation, they could not have created a better plan.
The Pugs are set on destroying us, on turning our prosperity into
poverty, on putting us in thrall to foreign powers, some with
despicable, repressive governments. Yet, morons like Duke and his ilk
blindly believe in the propaganda the Republicans tout to disguse the
idiotic and destructive policies they pursue.
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