Third World Economy

Posted on Monday 30 January 2006

Well, glad to say that GWB did not disappoint (see my previous post).

The government of the United States is officially in default. They’ve exceeded the debt ceiling of $8.18 trillion dollars, and are now at $8.19 trillion dollars, as noted in the Homeland Stupidity blog. Of course, what would you expect from a man who has been treating our country’s economy like that of a third world country with a tinpot dictator. Oh, wait, I forgot, we’re a first-world country with a tinpot dictator…

He’s been spending huge bucks on his “War on Fundamentalism” or whatever he is calling it today. He’s been spending it on mostly useless or ineffective Department of Homeland Security initiatives, which have done little if anything to really increase the security of the people of the United States. He’s been spending it to spy on Americans, via the NSA and the military. He has given huge tax cuts to large corporations and the wealthiest Americans.

Apparently, GWB hasn’t the brains to understand that if you keep spending money, but don’t take money in, either in taxes or by reducing your expenses elsewhere, then you will eventually run out of money to spend. Somehow, GWB has gone from having one of the largest surpluses in the federal budget, when he came into office, to a record-breaking deficit. Who pays for his foolishness and stupidity—in the end-all of us Americans pay for GWB’s mistakes.

The Hammer of Truth and A Stitch in Haste blogs both have excellent articles on this issue.


1 Comment for 'Third World Economy'

  1.  
    April 20, 2007 | 11:31 pm
     

    ‘Usman…

    I realy enjoyed reading this site, i needed some info on this subject for my new study and your post helped me out a lot thank you for that …

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