Sunday, September 24, 2006

Speeches on the debt


To watch each speech please follow the link (you will need to keep the screen open while the speech plays).

"We Can't Borrow Ourselves Rich"
Rep. John S. Tanner D-TN

3 comments:

EuroYank said...

American real estate and mortgage refinancing was the economic engine of the economy. Now the cycle has turned.
The resulting spending spree, the changing bankruptcy laws, and higher energy prices (150%+ pre Gulf War,) including the Bush transfer of 2.6 trillion dollars from the middle class to the upper five percent has sealed the fate of the American future. The Chinese are just benefiting from the result. And the Bush Corporate Military Industrial benefactors are milking this worthless war, and repaying the tax reduction and transfer of wealth favors with higher donations to the Republican Party.
Everybody is getting rich off of the American people, and their fate is sealed.
That is the common wisdom in most parts outside of the United States.

young_activist said...

That is truly pathetic if people in other parts of the world have a better idea about our economic future then us.

EuroYank said...

The bottom line is that in the near future the interest payment on a rising 10 Trillion dollar debt will surpass the total tax revenues of the government. Theoretically the American economic growth may keep up with it, but doubtful!