Washington Could Learn A Lot From A Drug Addict

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Debtocracy.  Congress is addicted to debt, regardless of which party is in power.

Video is a project of Public Notice Research & Education Fund (PNREF).  PNREF is an independent non-profit dedicated to educating the American people about economic policy and the principles of economic freedom. 

• U.S. poised to join China, Spain in double-A club

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The bipartisan ‘Gang of Six’ group of Republican and Democratic Senators has been in the news with a plan to cut the deficit by $3.7 trillion over 10 years. Of that total of $3.7 in reduced deficit spending, $2.7 trillion would come from ‘cuts’ and $1 trillion from tax increases.  In Congress, both Republicans and Democrats,  remind me of Wimpy, a character in the old Popeye the Sailor Man cartoons. Wimpy liked hamburgers and he frequently said,

• I’ll gladly pay you on Tuesday for a hamburger today.

However, with Wimpy, the payment on Tuesday never comes.  With Congress, spending cuts never come.

Unfortunately, many Americans are falling for news reports that tell of budget slashing or Draconian cuts or whatever.  Of course, the cuts are always going to come next Tuesday or next year or in 10 years, just never today.  And, any cuts that are actually put in place are not cuts at all as a real human being would view them.  Rather, they are cuts in the rate of spending growth.  That is, Congress wanted a 10% increase, but only got a 5% increase, so that’s a cut.

If you doubt me, look at actual Federal spending, not the rhetoric.  Do you see any cutting?

Continue reading at Marketwatch...

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Here's a detailed piece I wrote soon after launching the site back in January of 2009.

Land Of The Free And Home Of The Broke: The United States Of Insolvency

Comments

[Greg Diablo]

Yeah, but this guy is talking to US as if WE THE PEOPLE created the debt. What about the damn banksters? Why don't THEY learn something from a damn drug addict? What about the damn Fed printing up money 24/7?

Mind control B.S. The ten major banks control 60% of this economy, and THEY should be addressed as the damn addicts, not us poor slobs working scut jobs for inflated-decreased pay 40 hours a week. Disappointing that you all would post this garbage.

["Texas Dar"]

Yeah, but this guy is talking to US as if WE THE PEOPLE

No Greg, he is talking to the "Sheeple" !

[Mike C]

Though the american people did'nt create this debt we have done nothing to curb this extravagant spending that has plagued us for the past 10 years. Even though most have shown their discontent for the war we have supported our troups because of false patriotism. While the banks that created this mess are funneling wealth from government cronies we the people are left holding the bag and practically noones rushing to protest this unfair fallacy of economic destruction because of willfull ignorance and hopeless optimism. only now are people realizing that this will effect the bottom 80% of americans to one degree or another and the other 15 to 19 percent minorly . As for the other 1% they are the ones benefiting from this and so to conclude this I must say that all are complacent in our own demise for not standing up to any decisions that will have a large impact on our futures. We fear doing our duty of impeaching the 98% of constituents, the president & judicial systems that are the support system of corrupt banks and businesses everywhere. When it's too late to do anything is when we will see a surgance of torches and pitchforks but that will be in vain for the lifeboats will all have left this titanic debacle of democracy!

[DailyBail]

Well said Mike. But don't hold your breath for revolution and pitchforks. This will go on for another 5 years before anyone notices.

["Texas Dar"]

Mike, the American People have woke up. Its the Couch-Sheeple, that are comfy with the goverment bull shit...We 18% awake an boots on the ground. The rest got thAre head up Bama's ass readin the Telly-Prompter !