U.S. Is Bankrupt and We Don't Even Know It
Laurence Kotlikoff
"Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills. Last month, the International Monetary Fund released its annual review of U.S. economic policy.
"..the IMF has effectively pronounced the U.S. bankrupt. Section 6 of the July 2010 Selected Issues Paper says: “The U.S. fiscal gap associated with today’s federal fiscal policy is huge for plausible discount rates.” It adds that “closing the fiscal gap requires a permanent annual fiscal adjustment equal to about 14 percent of U.S. GDP.”
Double Our Taxes
To put 14 percent of gross domestic product in perspective, current federal revenue totals 14.9 percent of GDP. So the IMF is saying that closing the U.S. fiscal gap, from the revenue side, requires, roughly speaking, an immediate and permanent doubling of our personal-income, corporate and federal taxes as well as the payroll levy set down in the Federal Insurance Contribution Act.
Worse Than Greece
Most likely we will see a combination of all three responses with dramatic increases in poverty, tax, interest rates and consumer prices. This is an awful, downhill road to follow, but it’s the one we are on. And bond traders will kick us miles down our road once they wake up and realize the U.S. is in worse fiscal shape than Greece."
14 August 2010
Sälj USA!
Nyliberal Utopi
8/14/2010
Etiketter: alan greenspan, ayn rand, blackwater, bush, cheney, Halliburton, KBR, wall street
13 December 2007
Prince for President!
Giuliani eller Clinton, Obama eller Huckabee?
Är det inte dags att ta steget fullt ut och göra sig kvitt alla dessa politiker?
All denna smutskastning, lobbying, riggade röster och val-anarki hade ju kunnat undvikas en gång för alla om man bara hade befriat marknaden från all politik och alla politiker!
Det hade varit helt onödigt för industrin att spendera en massa pengar på att köpa presidenter om man avvecklat hela charaden och helt enkelt låtit en smart CEO ta över USA.
Så jag stödjer Erik Prince for president! Blackwaters briljanta grundare är verkligen en visionär ledare för 2000-talet.
AB
10 October 2007
Exporting Freedom
"ABC; BAGHDAD Oct 10, 2007 (AP) A woman and a child inspect a car with blood splattered on the door after two Christian Iraqi women were shot to death in central Karradah, Baghdad, Iraq, on Tuesday, Oct. 9, 2007. Iraqi police, and witnesses said that the men who shot them were in a convoy of four SUVs commonly used by private security companies."
USA in i Iran säger jag bara! Det är också trevligt att se den entusiastiska entreprenörandan hos dessa privata säkerhetsbolag!
Nyliberal Utopi
10/10/2007
Etiketter: blackwater, imperialism, neoliberalism, nyfascism