Wednesday, May 27, 2009

America's Broke, So How About Some Cars and Gov't. Health Care?

US revenues are down $138 billion (about 34 percent) from April a year ago, reports USA Today.

The UK Daily Telegraph reports that China has expressed concern about recent purchases by the Treasury of US bonds. The story, by Ambrose Evans-Pritchard, reports that the president of the Dallas Federal Reserve Bank, Mr. Richard Fisher, was questioned repeatedly by Chinese officials about the US government's intentions to "'. . .monetise the actions of our legislature'" -- essentially, whether it was going to just print money.
Mr. Fisher is, according to Mr. Evans-Pritchard's article, "running a fervent campaign to alert Americans to the 'very big hole' in unfunded pension and health-care liabilities" to the tune of $99 trillion.
When do we get Obama care for everybody? You know that's coming, right? If China doesn't pay for that, you will. . . What utter good sense. The treasury's broke, the lenders are balking, and Obama wants health care "reform" and he's putting the government deeper into the auto business.

2 comments:

The Girl You Don't Bring Home to Momma said...

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Ms Edna said...

Our NEW Government:
The transformation of the state into a milquetoast Robin Hood, a pudgy gray bureaucrat who robs from the spirit to give to the deserving.