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.


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.