Monday, October 31, 2011
Washington's plight (The dilema that is the National-Debt):
This whole mad scramble for cash, by the U.S. government should make the American people ponder deeply about the severe condition of our national economy, as well as how we're being viewed in the world right now, as a sinking ship. However, one thing that has not been pondered over is this: have any of these blue-chip companies (like Goldman Sachs, or Citigroup, for example), who've received billions of dollars from Washington, to keep their businesses afloat, ever volunteered to help get the U.S. out of her estimated $14Trillion debt to other countries, businesses, private investors, etc.?
The answer should'nt surprise any of us, the answer is hell no!!! To be honest, why should they bail the U.S. out? I mean, it's not their fault that the U.S. Congress is so enthralled to the whims of big-business, via campaign, and lobbyists monetary purse-strings, that keep them in Congressional positions for so many years, while they allow Wall Street to screw Main Street, with no vaseline.
Washington very graciously, based upon the power of fear that our economy would surely collapse had these big companies not received bailout money, gave Wall Street the keys to the vault of the U.S. Treasury, and allowed Wall Street to rob the American people out of $700Billion that they didn't deserve anyway, because they're supposed to be able to get themselves out of the mess that they made. And, come to find out, these companies gave their top executives annual bonuses, purchased private jets, sponsored lavish events, all in the name of getting away with highway robbery, at the expense of the American people, as well as the current expense of our national economy. But, the incredible irony is the following: our national economy is still out of wack & on the brink of failure-So what good did all of these Federal bailouts, to all of these companies do anyway?
We could really use that extra $700Billion, which was shelled-out to Wall Street, right about now. But, where do you think this is going to come from? Not the blue-chip conglomerates, not from the Fortune 500 companies, not even from the banking & investment sectors, which owe their current survival to U.S. bailouts. No.....it's all goin' to be comin' from the pockets of the American people.....again.....as usual.....as always.
The U.S. Congress has recently managed to pass a bill, which was signed by President Obama, to raise the U.S. debt-ceiling higher, in order to prevent a national financial default, which would officially make the U.S. bankrupt. But, still, how is Washington supposed to solve their ever-evolving problem, of spending what they don't have to spend?!!! Also, how is Washington planning to diminish its trillion-dollar debt, providing that this debt-ceiling can even be raised any further? Now that our government is on the brink of national bankruptcy, where should Washington go, to get its share of bailout funds? Who is going to bailout the U.S.?!!! Will it be all of these private institutions, whose base of operations are in the U.S.? Or, will it be all of those third-world countries, who receive billions of U.S. monetary foreign aid? Or, could it be the IMF? Hey.....at the rate that things are going in the U.S. right now, it's not a bad option, if the opportunity presents itself!!!
That is, in fact, the $14Trillion question: who's gonna take on this massive task of ensuring that our national economy doesn't go belly-up?!!! The entire world still has Washington under a microscope right now-From Obama trying to get re-elected as President, while still having to deal a shabby American economy & two war fronts (which did not end with the announcement of Bin-Ladin's death, which is the whole reason why thousands of U.S. troops & billions of dollars worth of weaponry were used in both Afghanistan & Iraq, to seek out terrorists-cells & WMD's, right?), the stalemate decisions about raising the debt-ceiling in the first place (which had initially gone nowhere fast in both the chambers of the House of Representatives & the House of the Senate, previous to this very recent bill that has been passed to raise it), to the walk-out by Rep. Boehner & his personal tug-of-war/cat-fight between himself & President Obama about the whole debt-ceiling issue-This whole financial mess has been just like a typical cheesy soap opera, but with trillions of cash on the line.
What makes this situation worse, on an international scale, is that other countries who are in competition with the U.S. (like China or India for example), could not only loose confidence in investing in the U.S. economy, but, could also use this potential tragedy for the U.S. as an opportunity, to make themselves the next top-dog economic superpower, which would obviously change the entire global economic & political landscape of the world. These are truly trying times for Washington, and the U.S. Congress had better get things together, before things get a lot worse.
#I'm just sayin'!!!