Comptroller of the U.S., AHH yeah, we're broke

Posted By: Hunter
Posted on: Aug. 15, 2006 at 7:32 PM

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Not only are we flat ass broke class, but 91 percent of all American assets are in hock. Per household you owe $411,000 dollars in debt and unfunded entitlements. The IRS will let you put that on a credit card and wave the usual 3% fee if you'll pay now

This all comes from Comptroller General David Walker in an interview to News Max that Congress and the White House hope, AND I MEAN HOPE AND PRAY, never gets beyond the internet media. I think we should all read it and then foward it on to the "main stream media" and demand they stick a camera in front of this guy so the untold millions still pluged into the Matrix can share in the economic doom!!

Maybe it'd be cheaper to just eat healthy, plan our own retirement and buy the God Damn oil, but what the hell do I know, I'm an extreeeeemist

http//www.newsmax.com/archives/articles/2006/8/2/184048.shtml?s=lh

and

http//www.newsmax.com/archives/articles/2006/8/2/175756.shtml?s=lh

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www.MoronInCharge.com

Aug. 16, 2006 at 12:38:50 AM

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Thank you Hunter. I'm not as concerned about the Federal Reserve so much as I am about the overall grim economic health of this country. Certainly we have more than the Fed Reserve banking system to blame for our current economic mess, and must do more than resurrecting the gold standard to fix it. These articles are a truly frightening and frank assessment of how bad things are, and how much worse they'll become unless we stop fooling ourselves. We have really dug one hell of a pit to get out of.

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Phaedrus

Aug. 16, 2006 at 03:02:42 AM

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Per household you owe $411,000 dollars in debt and unfunded entitlements.

***eah, but if we don't change anything today that number keeps going up. Totally, I think the number was $46 trillion, in 2002, and goes up by about 3 trillion every year. And that number didn't include Iraq, Katrina, or Bushies' Medicare Part Fiasco.

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indie616

Aug. 16, 2006 at 08:08:26 AM

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I gave you a 10 rating, Hunter. This is of critical importance.

Now, how to get the word out?

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Hunter

Aug. 16, 2006 at 06:54:32 PM

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Thanks All

MIC, please don't get me started on "that bank". Last week as I opened the Wall Street Journal to see what "that bank" made just in new credit, I snapped. There was an accidental discharge, the sound of approaching sirens, a lot slipping on spent bullet casings scattered on the ground as the jack boots came before I could get to the Hunter Bunker and I was forced to hose the neighborhood down with machinegun fire.

Now I'm locked in my bedroom and can here my wife and kids plotting with the police downstairs. My demon wife keeps yelling up to me to stop being such a coward and go out in a blaze of glory!!

I yell back, "Do you idiots comprehend, even remotely, the staggering enormity of America being looted by "that bank", which is just a private bank owned by a shadowy, semi-anonymous group of people that includes a lot of foreigners, all for the obscenely profitable benefit of these selfsame mysterious foreign strangers? Do you? Arrest them!!!!

OK, just kidding, but really if I keep bitching about the same thing everyone will tune me out, just like me kids do now. But when the music stops and everyone scrambles for the chairs, someone will be left without a seat. As Comptroller Walters points out, our debt is crushing and our ability to pay doubtful. The first large US debt holder to flinch will signal the stop of the music and the end of the USA as we know it.

In 1933 a 20 dollar gold piece bought a nice suit. Today it's gold content is worth 625 dollars and still buys a nice suit. Gold can also be used to buy the currency that takes over when the dollars done.

Indie, I've been contacting news outlets and asking they follow up on this. It can't hurt

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indie616

Aug. 16, 2006 at 07:04:15 PM

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Today on my drive home, I caught some of Byron Dorgan, Senator from No Dak on Sam Seder's show. I knew that the corporations were raping this country, but wow.

Phaedrus had a nice article on this and Dorgan's book.

[link:www.voiceofarizona.com]

If the corporations paid their fair share, or weren't allowed to hid profits in the Caymen's, we might have a shot in hell in getting out of this mess.

I am going to forward your links to friends and family. Powerful.

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www.MoronInCharge.com

Aug. 16, 2006 at 07:12:50 PM

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Hunter, you should be a TV writer for a police show like S.W.A.T. You really had me on the edge of my seat with your script. Bracing drama!

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Hunter

Aug. 16, 2006 at 09:35:39 PM

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Indie

As a former incorporated business owner I can tell you without any doubts at all that corporations DO NOT PAY TAXES!! Calling for higher taxes on any business is no different than asking for a higher tax on yourself.

Wage taxes, government mandates, materials taxes, fuel taxes, energy taxes, communications taxes and pre-tax taxes on the tax are all figured into the price you pay for every good and service known to mankind. Every corporation you do business with has a target profit margin and their prices are simply raised to hold that margin after taxes.

If you want industry to return to the United States you have to address what made them leave. Free trade policies without constitutional taxes allowed the flood our shores with cheap goods that American manufactures can't compete with when they have to pay American wages, American taxes and American regulations. OSHA, the EPA, trade unions, wage controls and taxes may all sound like good ideas, but you must understand they are all nails in the coffin of American industry.

Don't get me wrong, I know most corporations are down right criminal, but they were made that way with laws that no-one understands and regulations no-one can follow to the letter. I know, I've been there and done that

Good nite

Dave

PS. MIC, I was trying to be funny, guess I failed again

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www.MoronInCharge.com

Aug. 16, 2006 at 10:25:54 PM

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Yes, it was funny. I was trying to be funny too, and I guess that I failed too.

I cannot call OSHA and EPA nails in the coffin of U.S. industry. We already know from historical example that corporations left on their own recognizance to provide for a safe work place or to not pollute the environment will place such concerns far down the list of must dos to satisfy the shareholders. The Objectivist dream of zero regulations will be everybody's nightmare if allowed to come to pass. There is a happy medium between zero regulations and onerous regulations. This is one of those cases where seeking the middle is both reasonable and desirable.

U.S. industry will have to make up for OSHA and EPA regulations by being more competitive. At the same time, we should be encouraging by example and political means our competitors to adopt similar regulations that will enhance everyone's longevity. Raising CAFE standards does not necessarily imply a burden that would wreck the auto industry. Indeed, countries that have set higher standards unilateral are now on top of the auto sales heap.

The U.S. industry should not be free to destroy the atmosphere or ocean, or exploit/endanger their workforce in search of the almighty $: no nation should.

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indie616

Aug. 16, 2006 at 10:38:10 PM

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Hunter,
If corporations don't pay taxes then how do they get a 'tax break' i.e. the oil companies?

If they don't pay taxes then why do they incorporate off shore to avoid paying (non existent) taxes? (over 12,000 US corporations have a "home" address in one five story building on Church Street in the Caymen Islands).

You write: "OSHA, the EPA, trade unions, wage controls and taxes may all sound like good ideas, but you must understand they are all nails in the coffin of American industry."

Tell the West Virgina coal miners families that OSHA just sounds like a good idea.

EPA as part of the nail in the coffin of American industry? Well, I guess the people have their choice---death by unregulated waste, air pollution, mercury poisoning, etc or finding another job or moving to a new location.

The unfortunate truth is that without regulations, (as an example) the US would suffer coal miner deaths on par with China; 100's if not 1000's die every year in China's coal mines. The US is mesmerized over the loss of 10-12 lost miners a year.

Do you believe that OSHA, EPA, unions etc would have ever become popular or laws would have become necessary if the corporations would have been good citizens/employers?

I don't want to see American's (as young as 8,9,10 years old) working 12-14 hours a day in sweatshops, without fire escapes, for $2.00/day.

There is something messed up big time when a corporation will spend millions of dollars a year to have their name on a stadium, but short change their employees on their wages, or healthcare benefits.

When Pharma companies spend millions of dollars on free lunches, golf trips, and other "treats' for doctors when the average American can't afford their life-saving prescription drugs, we have a problem.

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Phaedrus

Aug. 17, 2006 at 03:24:31 AM

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OSHA, the EPA, trade unions, wage controls and taxes may all sound like good ideas, but you must understand they are all nails in the coffin of American industry.

WTF?

First, my Mom has worked for a defense contractor for 25 years in the safety dept, and they say every OSHA regulation is written in BLOOD. Some guy's or gal's blood, working at the job and they got injured, or killed and OSHA wrote a reg. You don't like it, fine. Wanna get rid of OSHA, let me gouge out your eye, or accidently kill your kid, and we'll see how long it takes you to call a lawyer or your congressman and start asking for a law, "Hey we need need work place safety..."

Second, don't like the EPA? Take a trip to Mexico City, and tell me how you like the air. I also hear that most of the Chinese industrial cities are even worse.

No, what's a nail to US Based business is free trade and free markets with people who aren't free. Here's a thought, lets start outsourcing CEO's and the Board of Directors to Chinese prisons. NAFTA and the WTO have got to go. America doesn't need more cheap plastic crap, and we got plenty of computer programmers, we don't need to let India and China undercut our wages by 90%. And if you're a small US firm, and can't outsource then, yeah, taxes and wages and unions will kill you; so we need to kill the rules that let the big boys abandon the USA workers, and start rewarding Americans for being Americans.

And then we start going after illegal immigrants too.

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