US Action News

The truth is that we are rapidly approaching another financial crisis that may end up being even worse than the horrific crash of 2008.

$1.2 trillion in cuts would not even cut the budget by $150 billion a year. We would still be talking about trillion dollar deficits way into the future.

Today, way too many Americans deeply love themselves, deeply love money and are deeply addicted to entertainment. Each new generation seems to be even more prideful, even more arrogant and even more violent.

[T]he reality is that when the derivatives market comes totally crashing down there won’t be any government on earth with enough money to put it back together again.

Sadly, instead of coming together and trying to do something productive, many Americans will resort to rioting, looting and civil unrest. We have already seen this during local emergencies such as Hurricane Katrina.

If inflation was still calculated the way that it was 30 or 40 years ago, the poverty line would be much, much higher and millions more Americans would be considered to be living in poverty.

The U.S. national debt has increased by more than 4 trillion dollars since Barack Obama took office. It is currently increasing by more than 2 million dollars per minute. We cannot afford to pile huge amounts of additional debt on to the backs of our children and our grandchildren. What we have already done to them is deeply, deeply criminal.

Goldman Sachs was the second biggest donor to Barack Obama’s campaign in 2008, so don’t expect Obama to do anything about any of this.

At this point, virtually the entire global economy runs on credit, so when this debt bubble bursts things could get really, really messy.

Never before in modern U.S. history have the American people been this angry.