The United States government, which can't even switch over TV without going broke thinks it can fix health care just like they "fixed" the economy by prolonging disaster through the bailouts. First off, what they mean by "fix" is make some intrusive program that costs billions more than they say, and my children end off paying it off in 50 years.\
The government is facing the worst fiscal crisis in its history. You all might say that "Oh, WWII debt was more" but it isn't. We have the roughly the same amount of debt as of now, plus budgets with deficits in the hundreds of billions for the forseeable future, along with over $100 trillion in unfunded liabilities. This fiscal crisis may very well cause the next Great Depression around 2030, when the last of the baby boomers reach retirement in 2027. By then, federal debt will be so severe, drastic cuts will not be enough to prevent financial collapse in the government. It'll end off selling off its stakes in the companies it bailed out such as GM (They'll keep a large stake in all those companies in order to control them), resulting in a massive stock market crash, potentially the worst in U. S. history. Like what happened in the Depression, people'll lose trust in many "super-banks" such as Citi with their plunging stock values, and will withdraw much of their money, resulting in widespread bank failure. The FDIC's supposed to cover that, but it will only worsen the federal debt crisis, further decreasing the peoples' trust. With the bank failures, and nobody to bail them out, an unprecedented foreclosure crisis is likely to occur.
I think you all are starting to get the picture of what could happen if this uncontrolled federal spending continues without significant reform. Act now!
The government is facing the worst fiscal crisis in its history. You all might say that "Oh, WWII debt was more" but it isn't. We have the roughly the same amount of debt as of now, plus budgets with deficits in the hundreds of billions for the forseeable future, along with over $100 trillion in unfunded liabilities. This fiscal crisis may very well cause the next Great Depression around 2030, when the last of the baby boomers reach retirement in 2027. By then, federal debt will be so severe, drastic cuts will not be enough to prevent financial collapse in the government. It'll end off selling off its stakes in the companies it bailed out such as GM (They'll keep a large stake in all those companies in order to control them), resulting in a massive stock market crash, potentially the worst in U. S. history. Like what happened in the Depression, people'll lose trust in many "super-banks" such as Citi with their plunging stock values, and will withdraw much of their money, resulting in widespread bank failure. The FDIC's supposed to cover that, but it will only worsen the federal debt crisis, further decreasing the peoples' trust. With the bank failures, and nobody to bail them out, an unprecedented foreclosure crisis is likely to occur.
I think you all are starting to get the picture of what could happen if this uncontrolled federal spending continues without significant reform. Act now!
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