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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Kenneth E. Phillipps who wrote (102453)4/7/2011 11:51:07 AM
From: JakeStraw1 Recommendation   of 224750
 
The government, if it were a business, would have been bankrupt years ago. It spends money it doesn’t have. It borrows money from a the Fed that simply prints it and hands it over to the gov't that is insolvent.

Democrats and Republicans are fighting it out in Washington these days over $60.0 billion in budget spending cuts this year. The $60.0 billion is not our only problem. Our problem is in trillions of dollars, because that’s how large the debt of the government has accumulated.

Our current national debt sits at about $14.29 trillion. By the end of this decade, the number is predicted to be $20.0 trillion. But the numbers are basically bogus. A real company would need to add future obligations, like retirement benefits, on its balance sheet, while the government doesn’t do that.
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