First, some analysis of the actual numbers from Co-Founder of FedUpUSA, Karl Denninger:
And now, let’s get the opinion of Mark Levin regarding the political angle. Did the Republicans and the Tea Party really win?
Not so much.
Until we have a serious discussion about REAL cuts to what is contributing to our projected $14 TRILLION total debt load, we’re headed right off the cliff.
As you can see from the CBO chart below, to be serious about what is pushing us over the cliff, the discussion MUST be centered around Medicare and Medicaid. Make no mistake, being at war on 3 different fronts is no small expenditure, but those who keep touting that if we just cut spending to the Pentagon, all would be well, are completely ignorant of where the MAJORITY of our ongoing, ballooning deficit comes from. Medicare and Medicaid are more than TWICE the DoD budget. Read that again and let it sink in. This situation only gets WORSE from here on out, as our population has far more elderly adults about to retire than new workers coming in. (Not to mention new workers unable to come into the workforce because of lack of jobs.) We are not far away from Japan’s dilemma of only one worker supporting more than 3 retirees.
In order to actually spend as much as we take in, the entire government must be cut by 43%.
Get back to me when we even put a dent in that. Until then, it’s all smoke, mirrors and lies from BOTH sides of the aisle. It also means our Republic is headed for the rubbish bin at warp speed. As Mr. Denninger explained above, the only thing that has kept it from happening so far, is the Federal Reserve’s purposeful devaluation of the US dollar. How long before that little trick destroys what is left of our meager production due to unaffordability of energy needed to run those companies? Or how long before all but the wealthiest Americans can afford to feed themselves due what the Federal Reserve’s policies are doing to the prices of food? Not long. Not very long at all.
Are you willing to lose your job (forever) and starve in order to allow the Federal Reserve to continue monetizing the deficit spending of our government? That’s the question everyone needs to be asking themselves.