Tuesday, 1 October 2013

America is bankrupt and Obama knows it

America has been bombed quite a few times in recent years and not by Islamic Terrorism but by accounting terrorism. If you thought Enron and other private companies were the exception, think again. Federal Government has been attacked from the inside by accounting terrorists that have run a country on permanently increasing public debt.

Constant blaming by both Republicans and Democrats is not a solution for America's dire financial problems. There is always money to go to war but suddenly there is no money for projects that could help rebuild America and reverse its ongoing decline. So President Obama will blame those who are opposed to the constant cycle of printing money and increasing debt.

Those who oppose the cycle of ever increasing debt will blame President Obama but all is not what it seems. Under both Republican and Democratic Administrations, Federal Government have ignored the fact that debts have to be paid and have continued to spend as if there was no Tomorrow.

For decades, American Administrations have preached to other governments the kind of financial probity that America itself has failed to adhere to. The Number-One World Power is nothing more than a Gambler and Shopaholic Nation that owes money to practically everybody and then we periodically get into conflicts when the so-called Debt Ceiling needs to be raised to continue accumulating debt.

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