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« Watch Ron Paul On Jay Leno: 'No 3rd Party Run' | Main | INTERPOL: Judge Orders Extradition And Arrest Of Former U.S. Treasury Undersecretary David Mulford »
Wednesday
Sep052012

Video: National Debt Insanity From Joe Biden

Editor's note: Publication of this clip is a statement on the incorrigibly egregious, generational-pillaging hypocrisy of the Washington spending establishment, and is not an endorsement of the Romney-Ryan ticket or any other part of the false Left-Right U.S. Bankruptcy Machine.

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In 4 years the national debt will hit $21 trillion, regardless of who wins this election.  Romney doesn't have the cojones to make the cuts, just like every President before him.  And since he actually wants to increase military spending from current levels, he'll end up a deficit president just like Obama.

Count on it.

The only thing that will will force Washington to act on spending is the bond market.  When the bond vigilantes finish with Europe in 24 months or so, the United States of Insolvency - Land of the Free and Home of the Broke - will be their next target.

When bond yields start spiking as we approach a $20 trillion national debt in late 2015, then and only then will Washington even begin to take the issue seriously.

Have panic, will act.  Until then, expect nothing.

We will borrow 43 cents of every dollar, behaving blissfully as if absolutely nothing could ever go wrong.  Until it does.  And by then it might be too late.

 

 

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Reader Comments (9)

Bill Clinton on Obama: 'A Few Years Ago, This Guy Would Have Been Carrying Our Bags'

http://www.weeklystandard.com/blogs/bill-clinton-obama-few-years-ago-guy-would-have-been-carrying-our-bags_651489.html
Sep 5, 2012 at 4:53 AM | Registered CommenterDailyBail
Sep 5, 2012 at 5:01 AM | Registered CommenterDailyBail
Some Farmers 'Will Make More Money' in Drought

http://www.cnbc.com/id/48782861
Sep 5, 2012 at 5:02 AM | Registered CommenterDailyBail
Obama asks eurozone to keep Greece in until after election day

http://www.independent.co.uk/news/world/europe/obama-asks-eurozone-to-keep-greece-in-until-after-election-day-8076852.html

In case anyone missed this last week.
Sep 5, 2012 at 5:07 AM | Registered CommenterDailyBail
"In 4 years the national debt will hit $21 trillion,"

Actually DB our debt is higher right now there was $6.3 Trillion kept off the budget

http://www.zerohedge.com/article/obamas-budget-has-one-small-missing-piece-63-trillion-dollars

Why American Wealth is on the Decline?

http://www.hangthebankers.com/where-has-all-the-money-gone-robert-kiyosaki/
"Have panic, will act."

Bracken: When The Music Stops – How America’s Cities May Explode In Violence


http://westernrifleshooters.wordpress.com/2012/09/03/bracken-when-the-music-stops-how-americas-cities-may-explode-in-violence/

On your Ebola post DB sorry I don't remember where it was but this is a frightening thought

Ebola Virus: The Global Elite’s Bio-Weapon Scheme for 90 Percent Depopulation?

http://occupycorporatism.com/ebola-virus-the-global-elites-bio-weapon-scheme-for-90-percent-depopulation/
Sep 6, 2012 at 12:50 AM | Unregistered CommenterLiberatedCitizen
Actually DB our debt is higher right now there was $6.3 Trillion kept off the budget

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As long as you are counting unfunded liabilities LC, then the national debt is really closer to $200 trillion.

http://dailybail.com/home/chart-shock-the-real-national-debt-is-202-trillion.html

http://dailybail.com/home/kotlikoff-the-government-is-lying-about-the-national-debt-it.html
Sep 6, 2012 at 3:17 AM | Registered CommenterDailyBail

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