US Action News

Our Founders understood government and its dangers to our liberty. They feared it above all other threats and tried to create a system of self government through which we could protect ourselves from its tyranny. When their warnings are ignored we get Barack Obama, Nancy Pelosi, Harry Reid, and a government of lies, oppression and national bankruptcy.

A fiscal collapse is now inevitable. Despite his past rhetoric about irresponsible debt, Obama has no plan nor even the desire to curb spending and reduce debt. The debt death spiral is only a few years away from consuming all revenues the government takes in. Taxing everyone 100% will not solve the problem. Obama does not even recognize that there is a spending problem. His Marxist ideology blinds him to reality. Math is too hard for him. Meanwhile we are being crushed between the millstones of taxation and inflation.

43 cents of every dollar the government spends is stolen from future generations in the form of debt that must be repaid. “Blessed are the young for they shall inherit the national debt.” — Herbert Hoover

With regard to the Democrats, there is no hope for them, and this is literally their last hurrah, as the country is faced with Greek style tough love once interest rates go up to the normal levels again.

Only the rich will pay for all the goodies I give you promises Obama. Yet everyone pays in rapidly rising costs for food, energy, building materials, healthcare and all goods and services. When the answer to insurmountable debt is creating money out of thin air the existing money becomes worth less and less and consequently buys less and less.

It is important to look ahead and try to get a handle on what is coming, because I believe that the rest of this decade is going to be extraordinarily chaotic for the U.S. economy.

Few seem to worry about future generations, except in empty posturing rhetoric. Lost in egotistical self-indulgence, our collective elected officials continue to make decisions predicated on the Me Generation.

Somehow, right before the election, budget cuts of 10-1 over tax hikes were not acceptable to Republicans. Now, they have settled for a package that essentially makes no budget cuts at all. – Mike ‘Mish’ Shedlock

GOP now means Gutless Orwellian Pretenders. Over $16 TRILLION in debt increasing by $5 BILLION a day and and our looney leaders continue to steal from our children and grandchildren and allow EVERYONE to be taxed by rising prices caused by our devalued money.

This was entirely a political crisis — not an economic or even fiscal one. – IBD