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Is the United States on the road to bankruptcy?

By maxwell edison ·
For the past twenty years (ten, here at TR), I've been warning about the possibility - no, make that the inevitability - that the United States government will face the ultimate financial disgrace - financial bankruptcy.

I've been extremely critical of the Democratic Party for advancing policy positions - especially social policy positions - that will ultimately lead to such an outcome; and I've been even more critical of the Republican Party for capitulating to said Democrats and for failing to advance a more fiscally responsible and libertarian principled philosophy for the sake of bipartisanship and/or compromise.

Political party preference aside (if that's even possible), what's on the horizon for the financial stability of, what was once the most financially stable nation on the planet, the United States of America?

P.S. I expect most replies to be nothing but typical political rhetoric. Please prove me wrong.

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I'm also opposed to corporate bail-outs. (eom)

by maxwell edison In reply to Two points
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For what its worth Max

by JamesRL In reply to Two points

Bush has suggested in his memoirs he has no regrets about the automobile industry bailouts.

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For what it's worth, James (edited for additions)

by maxwell edison In reply to Two points

Re: Bush has suggested in his memoirs he has no regrets about the automobile industry bailouts.

I haven't yet read President Bush's book, Decision Points, but I plan to very soon.

But as you may or may not know, I haven't always agreed with what President Bush did. Personally speaking, I think GM and Chrysler should have been forced into reorganization bankruptcy. But the auto unions wouldn't have anything to do with such a thing!

P.S. Who's going to bailout the United States government?

I am disappointed that the Senate could not reach agreement on a short-term plan for the auto industry. I share the frustration of so many about the decades of mismanagement in this industry that has helped deliver the current crisis. Those bad practices cannot be rewarded or continued.
-Barrack Obama

And what about the decades of mismanagement in (government) that has helped deliver the current crisis?

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Of course Max I wasn't suggesting that

by JamesRL In reply to Two points

I'm only suggesting that Bush has had time to reflect on his decision, and right or wrong hasn't changed his mind, though he could have easily done so with the benefit of hindsight.

From what I read and hear, many people have forgotten that the Bush government started the process, and a lot of people are blaming Obama for those bailouts.

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Being critical of GWB:

by maxwell edison In reply to Two points

I was also critical of President Bush for:

Failing to address the illegal immigration problems.

Expanding the role of Medicare.

Failing to push hard for real Social Security reform.

Failing to ......

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Errm - NO!

by The 'G-Man.' In reply to Two points

You say: "Besides, I doubt very much the G-Man was referring to the military use and/or defense of the flow of oil. He just saw an opportunity to paint Americans as greedy."

Totally incorrect - you asked and I told you exactly what I meant.

So am I talking to the real 'Mad Max' of the future when petrol is a premium and a currency?

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More like

by boxfiddler Moderator In reply to America has been greedy

gluttonous. Either way, a diet and some awareness would go a long way.

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Is this a pride thing?

by Tony Hopkinson In reply to Is the United States on t ...

Don't worry about it, you'll still be richer than us....

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Warms my heart, thanks so much

by DelbertPGH In reply to Is this a pride thing?

Bland reassurances make the decline so less dismaying.

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It's only a decline

by Tony Hopkinson In reply to Warms my heart, thanks so ...

if you believed in the incline.

They aren't real numbers, they had, have and will continue to have no basis in reality.

Somebody says something and your 'value' doubles or halves in minutes?

It's bollocks, let the market place find it's real value, if a few of the parasites who make zeros out the imaginary relationship between value and money top themselves, no great loss...

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