US not living within its means

Run time: 05:39 https://www.youtube.com/watch?v=BXQl5uB4UaA   Posted on YouTube: August 09, 2011 By YouTube Member: RTAmerica Views on YouTube: 1870   Posted on DU: August 10, 2011 By DU Member: The Northerner Views on DU: 597

 
As of late it seems the US hasn't been living within its means and, as a result, America is approximately $14.5 trillion in debt. Where will this ludicrous spending leave the US in the years to come? How will America ever climb out of this hole? Charlie McGrath, founder of Wide Awake News, tells us what this means to the future of the US.

Look at all those fat billionaires and multi millionaires, just ripe for the picking. Pick their pockets to upgrade the infrastructure and provide the seed money for a new wave of manufacturing. Put people back to work at every stage of the process, generating more revenue from them and jump starting the economy.

Pick their pockets because they won't do the patriotic thing on their own. They have to be forced.

Oh, even with increased taxation, the improved economy will make them richer. That's how things work, from the bottom up. However, don't ever expect them to admit it.

they will simply move complete off-shore if even a whiff of a somewhat sane tax policy touches upon their nostrils.

The game was over a long time ago, when the so-called progressive era of the early 20th century allowed the giant cartels and banks to trade the appearance of being 'trust-busted' in return for giving the government regulatory power to actually smash all their small and mid-size competition. Then they rammed through the odious , privately-held Federal Reserve to control monetary (aka debt issuance) policy. The next death-blow came in 1971 when Nixon pulled the US of the last semblance of the gold standard. Finally, the coup d' grace was delivered under the Clinton/Rubin/Greenspan troika, when you had the financial rape kit unleashed to carve up the carcass via NAFTA, the repeal of Glass-Steagall, and the horrific Commodity Futures Modernization Act of 2000.

The Fed and ECB supply the bubbles to burst and further consolidate wealth, a bought and paid for Congress and other national assemblies provide false 'regulation', and the global systemic controllers (aka IMF, World Bank, the largest 15 or so private banks, and the overlord of it all, the BIS) rake up the collective tangible wealth of the planet. The citizens are thus reduced to chattel debt slaves, and the light darkens across the world.