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#15
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Domestic Banks and Big Business will also be consumed by a debt owed to a foreign power like China, whose Communist goal is the takeover of the world. How convenient! It is unlikely that big business and banks are orchestrating that debt because they would not be so stupid as to be self destructive. The real culprit here is the liberalism over the last 100 years that has given birth to income taxation, welfare, social security, medicare, medicaid and many other bad ideas. The larger taxation fueled the spending, which was then raised to such a level, deliberately, where borrowing was necessary. Combine that with the fact that the social programs listed above have no disincentive to the recipients for being on them, and you have the mechanism of fewer and fewer earners supporting more and more dependents. Obama and others of his ilk, promising voters "somebody else's money", are the core of the problem. Our only hope is to return the country to a state where the debt is repaid at a steady rate, eventually guaranteeing our sovreignty over the long term. And that requires that the social programs be curbed steadily going forward. |