Posts Tagged ‘IMF’
“Root Canal Politics”
Thursday, May 27th, 2010
When Thomas Friedman and Pat Buchanan share something in common you should perk up and take notice. Both had eye-opening articles recently concerning the economic meltdown of Greece and the threat it poses for the EU and the US. While the two men, one a secular “moderate” most likely Democrat & the other an Irish Catholic conservative “Independent” Republican, may not agree on all the solutions to America’s looming fiscal crisis, this dynamic duo know the writing is on the wall for Welfare State/ Big Brother Government Economic Ideology. Friedman expressed the view that the ”Tooth Fairy” mentality has led Greece and rest of the West into the valley of death fiscally. He coined the term”Root Canal Politics”, as Buchanan concurred with his own words, as the only solution ahead.
Reading our local paper this week as the Forsyth County School Board, Forsyth County Commissioners, and the NC State Legislature get down to business framing the next budget, it becomes clear these politicians still remain blind to the reality of the economic crisis before us. Many of the politicians and the good folks, concerned citizens, showing up for the public discussions are still relying on the “tooth fairy” to magically continue leaving the money for their interests under the pillow clandestinely as in the past.
The State Govt is overdrawn; the counties are overdrawn; which leaves the school boards overdrawn. Bush’s bank bailout and Obama’s TARP I & II on the backs of 2 long unfinanced wars have broke the United States’ budgets since 2008. Where does the road America is on lead to? Look at Greece, Portugal, Ireland, Italy, and Great Britain to find out. Cradle to Grave govt welfare programs threaten to destroy these countries and the EU as an entity.
Does Germany really want to underwrite their problems w/o major concessions? Where does the money come from for the IMF to underwrite their fiscal mess? Can you say Uncle Sam; a large percentage of the IMF support is drawn from American taxpayers. Remember, the US deficits are already huge. The FED merely printed $800 million last year with the Stimulus Pkg.
The bottom line is this: No one could run a household like this… no one could run a business like this…. and the days of running a nation like this are eventually numbered and the bill of incremental socialism comes due. It didnt work in Soviet Russia or Eastern Europe; not in Red China nor Vietnam; hasnt worked in Cuba nor Zimbabwe. Marxism is a failed system.
“Root Canal Politics”– drastic cuts in spending w/ the associate pain involved is the only way to a brighter future. More to come on the solutions…
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