Saturday, April 17, 2010

How a Python Devours its Prey

A great article from last fall came back around to me, still fully relevant.  John Lewis writes of a warning from a man appointed by Bill Clinton -- and if he's scared, everyone else should be.
"...mandated fiscal entitlements, projected into the future, are over 52,000 billion dollars. That will equal 90% of all household wealth in the U.S., and will place a burden of over 450 thousand dollars on every household in the land. This is almost ten times the present median household income level... "
"Health care entitlements constitute by far the largest single piece of this economic disaster. Those who think that creating thousands of billions of dollars in new government entitlements--in a health care bill that adds tens of millions of Americans to government programs--will do anything except hasten the coming bankruptcy are out of touch with reality. "
"If fundamental reforms are not begun now, Walker concludes, the United States will experience a financial and political collapse comparable to the fall of Rome."
We only have to review a little Roman history to get the full impact of that last one.
"He stresses that this coming financial meltdown is known by everyone in Washington--but no one wants to acknowledge it. "
I would add:  Obama may not want to acknowledge it;  he simply *wants* it. This is his path to permanent, unbridled power.  I mean that seriously and literally.  Stay tuned.

http://www.capitalismmagazine.com/economics/5631-The-Collapse-America-The-Dire-Message-David-Walker.html


The Collapse of America? The Dire Message of Mr. David Walker

28 August 2009 John Lewis


If fundamental reforms are not begun now, Walker concludes, the United States will experience a financial and political collapse comparable to the fall of Rome.


(read full article at the link)

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