Following the Pied Piper
The fantasy world of entitlements, wealth redistribution, and benevolent government bureaucracy... is going to sink us... according to the chair of the FDIC... and the Bible.
"The rich rule over the poor, and the borrower is a slave to the lender."
Proverbs 22:7 (HCSB)
Once again the Word of God is being proven true... even in the case of economics.
Next Debt Crisis May Start in Washington: Bair
The US needs to take urgent action to cut its debt in order to prevent the next financial crisis, which may start in Washington, Sheila Bair, chair of the Federal Deposits Insurance Corp. (FDIC) wrote in an editorial in the Washington Post.
The federal debt has doubled over the past seven years, to almost $14 trillion, and the growth is a result of both the financial crisis and the government's "unwillingness over many years to make the hard choices necessary to rein in our long-term structural deficit," Bair wrote.....
Now... just for fun... notice what CNBC elected to leave out of their quote from Chairman Bair's editorial in the Washington Post....
"Total federal debt has doubled in the past seven years, to almost $14 trillion. That's more than $100,000 for every American household. This explosive growth in federal borrowing is a result of not just the financial crisis but also government unwillingness over many years to make the hard choices necessary to rein in our long-term structural deficit."Did you catch the staggering reality of the current $100,000 debt that EVER American household NOW is in DEBT because of government... folly? And political progressives want to give government even more control of business and the economy?
Go check your checkbook and see where your $100,000 dollars is to pay back our government debt. Most Americans in reality are now officially economic slaves to our nation's debt... at the hands of our government.
The Pied Piper has been very effective in America... and the world... and the hammer is preparing to fall.