America’s top accountant resigns: U.S. Comptroller General warns of US bankruptcy
David M. Walker, The Comptroller General of the United States and “head of the Government Accountability Office, has resigned ... Walker has warned that the government is ignoring threats to the nation’s long-term fiscal security.” The latest audit of the federal debt have revealed that “deficit spending and promised benefits for federal entitlement programs have put every man, woman, and child in the United States on the hook for $175,000”.... basically the United states is bankrupt!
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- salviad
- 11 days ago
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Here's an interview with Mr. Walker on 60 minutes explaining the direness of the situation.
And here is a link to Chalmers Johnson describing the toll that our military industrial complex is taking on our country.
http://current.com/items/88918521_nemesis_the_last_days...
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at some point you have to wonder if this bankrupting isn't intentional...paving the way for the New World Order. George H.W. Bush was on of the original signers of the Tri-Lateral Commission...George W. Bush is ensuring that it happens the way they planned it.
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- Incredulous
- 11 days ago
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If we hadn't dropped the gold standard, we wouldn't be so bad off.
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- LatinPrincess
- 11 days ago
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You are right about the gold standard, but is anyone really surprised. The current atnosphere of corporate greed and American Military spending can lead nowhere but banckrupcy.
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Old news
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old or new... that can't be good.
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Isn't it just a little fishy that we've stayed in this war as long as we have, with really, no visable improvement?
"Mission accomplished" 5 years ago?
The MAIN reason for the start of this war being terrorists, who have yet to be discovered.
"Concealed weapons of mass destruction". HA!
And now, America's main sources of oil, are slowly becoming involved in conflict with the American Government, no doubt posing more of a threat than we have attempted lately.
The banks are repeating history and dishing out worthless paper to fund these fanatical war efforts, with plummeting chances of fiscal recovery.
WHAT ABOUT THE PEOPLE? Where has all of our funding gone? The governement tries to conceal their ever imposing debt upon each citizen, with the inclusion of government funding from education to Medicare, but even THAT is losing it's backing.
A total collapse seems entirely too inevitable, and i don't think we'll be waiting for it much longer. **-
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- abreecdefg
- 10 days ago
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Although it seems like a lot of money, our country has been bankrupt since World War II. That's how we got ourselves out of the Depression: spend spend spend. The current war in Iraq isn't helping much either. We keep spending money we don't have, so we go further into debt. It's the only way our country knows how to run now. Eventually our economy is going to collapse, that's been inevitable since the beginning. Unfortunatelty the crash might be during our time.
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- x_darkly_charming_x
- 10 days ago
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Get rid of the Federal Reserve System and the current administration, replace it with an honest Congress and elect a president the honest way and things will start to look up.
Continue on this corrupt path of fixed elections, fake candidates and true elitist (corporate facisit, really)- run government. And we will truly become a third-world nation again. 8 Years has been wasted on war and destruction and has sent this country back 20 years.-
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- Grain_Of_Sand
- 10 days ago
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Uh oh, this can't be good.
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Pay off the debts with the record oil profits.
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- jchurchill
- 10 days ago
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10x the record oil profits wouldn't put a dent in the debt.
We're totally screwed. -
I can't wait till it all falls apart...I want to watch it come down...a system based on lies and inequality can't last...will you be ready?
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Noooooo
Systems based on lies and inequalities last forever.
When this one falls, it will be replaced by something far more sinister.
No one will be ready. -
grain of sand, i couldn't agree more. well-said.
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if the system falls idiot we will all be fucked, if it falls the only people who will still be in control will be the armed forces. You will have the generals in control of the millions of troops with all ttheir bad ass equipment ready to kick the shit out of anyone who crosses them. What do you have a beebee gun... are you ready?
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The armies they have now are made up of volunteers from the very people they would seek to oppress. Therefore, martial law would depend on who would be able to throw thier humanity away.
We underestimate our own power in this situation. Standing together as a society, we can overturn the tyrannical rule of the government as we stand in greater number than even the armed forces of this country. All we need do is to leave our jobs for one day, march on Washington and make our voices be heard. Even if it was just a million or less, people would take notice.
The day the US Economy stood still. That would send more of a message than any gun-toting revolution, and hit those guys where it really hurts!
The top officials involved are resigning from thier post now either to escape accountablity when the shit finally hits the fan, or had suddenly grew a conscience. Either way, if we don't do something now, things will only get worse.-
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- lifestudentno83
- 10 days ago
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France is looking better and better all the time...
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Hey now, slow your roll. We had a surplus with the Clinton administration, brief as it was. Bush went and knocked it right back down again.
The end of one system merely means the birth of something new. You can't make something stronger until you stress test the original, hence why it wouldn't be so bad to have the system fall.
And I thought we went off the gold standard due to an abundance of gold causing heavy monetary instability.-
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- dariustwin
- 10 days ago
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7 months left.. I can only wonder what else this country will let Bush do.. I would love to hear what he thinks about this. Hopefully he is charged after his term ends...
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- lifterbaron
- 10 days ago
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We need motivation. We need people on the street instead of working two jobs without affordable health care, spending half our pay checks on gas to get to our two jobs, and the other half to eat. We know that in order to make any statement or movement, we must move as one. In order to hold a valid democratic election we must make it a democratic election. One man, one party, one army, cannot hold back the will of the people...we simply have to do something. They have no morals.
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- freedomisfree
- 10 days ago
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As much as I agree with you freedomisfree times just arn't hard enough yet for people to take that kind of action. Things are still too comphy for a lot of people and until everyone is on the streets eating from the wealth's trash cans nothing significant will be done. We've got aour cable TV and internet and until we have a literal thorn in our side the people will do nothing but talk.
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Don't blog about it, be about it! let's do this!
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Under any circumstances, the government would be "bankrupt" because it produces no earnings but incurs expenses. It doesn't earn anything, it lives on taxes and spends the booty.
The government does earn money by charging fees for services but that isn't considered a "business venture", it's simply trying to offset costs (losses).-
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- realtorrich
- 10 days ago
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keep browsing
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