We Are Broke

Watching the American economy die is like watching a massive train wreck.  You see two engines coming at each other at full throttle and you have to watch.  You can't close your eyes and you can't stop them.   You just continue to watch in horror as the two behemoths race toward each other, hell bent for total destruction.

We were told that Social Security will most like be broke by 2041 and medicare will be insolvent in about ten years.  America's bond rating is close to being downgraded which means the cost of servicing our debt will increase way beyond what is now predicted.  We are spending almost 50 cents more than every dollar we are taking in in revenue.

The term for that is unsustainable.  We cannot continue to spend like this, but we are and in fact, the Obama Administration is about to make it worse by adding in billions upon billions for health care . 

Sometimes I wonder if I'm wrong on this.  It seems that most of the country is blithely going along as if nothin will happen.  The Obama administration is telling us the recession is ending, but there is absolutely no hard indicator that confirms that.  In fact, Consumer confidence continues to fall.  There are some folks out there starting to sound the alarm, but it's almost like voices in the wilderness.

I hope I'm so wrong about this.  It's like the above described train wreck; you hope you are dreaming and when you wake up, there will be no carnage. 

I don't know what will happen to this country if the bottom falls out.  Frankly, it scares me.  Happy endings are only in the movies and this scenario cannot possibly end well.

Pray we wake up before it's too late.

VW

Comments

[BobF]

Three years ago, Bush talked about trying to fix Social Security and failed due to Congress; the Democrats applauded his failure.

http://www.youtube.com/watch?v=6mqSXsNJzRM

Chickens are coming home to roost for the Democrats.

[Violence Worker]

Indeed they are. Even Obama admitted today that we can't sustain this.

VW