16 September 2007

Greenspan attacks Bush's financial disaster

The BBC reports that Bush ignored his advice to veto "out-of-control" bills that sent the US deeper into deficit. This severely under reported news story is one of the many huge warts on the ugly face of the policies of King George during his reign as pseudo dictator over this country. The massive defecits have generated a staggering national debt that has now surpassed the 9 TRILLION mark (see the US National Debt Clock for current figures).

If you were the head of a household, and spent beyond your income, paying for things by running up credit card debt, it wouldn't be long before the bank would forclose on your house, take away your car and all your furniture, and leave you destitute and homeless. That is EXACTLY what is happening to our nation! In the insanely despicable act of granting behemouth tax cuts to the rich and large corporations, coupled with out of control military spending, King George has screwed our national economy. Sure things never look too bad when you are still borrowing money to pay for things, giving the false appearance of prosperity, but those debts need to be repayed at some point.

Who will repay the debts the conservatives have given us? Our children? Our grandchildren? What was the dire need to go many trillions of dollars into debt for? Were chinese hordes invading north america? Was there a deadly plague killing millions? Was there a comet coming to destroy the planet? The loss of the world trade center and the initial spending to attack the terrorist infrastructure (which is NOT the failed occupation of Iraq) only add up so far.

In the end, this national financial disaster will haunt the Bush legacy for generations to come. With any luck, it will also quell any archaic notions that linger about the supposed financial misdeeds of 'tax and spend' democrats from back in the 60s and 70s as well. The republicans should forever be remembered as the party that bankrupted our nation to make the rich richer.