Thursday, January 3, 2013

US: The Tea Party must demolish Presidential and Congressional Crazeonomics

The Fiscal-Cliff Deal is a fudge. It fails to address the US debt problem. It is an dereliction of duty by spineless politicians. Quite frankly it is time for the American public to wake up. The country is floating on a sea of printed and borrowed money. Never was it more essential to have a powerful Tea Party movement to act as a counterbalance to liberal media organs such as The New York Times, MSNBC et al and to fiscally irresponsible politicians of both political parties.

Now let's first define Crazeonomics. It is a policy marked by an explosion in public expenditure funded by massive borrowing and printing. It is characterised by mushrooming waste and pork barrel spending. Politicians buy voters. A sizeable body of voters will collude with the reckless politicians and allow themslves to be bought with goodies.

The game is almost up. America trundles rapidly towards bankruptcy. An economically inept President and a dysfunctional Congress lack the guts to take the hard decisions to restore solvency. Massive cuts in spending are required. America is living on borrowed money. The ratings agencies are about to downgrade America's credit rating. This will result in higher interest rates. America is only capable of servicing debt repayments because of low interest rates UP TO NOW. Once interest rates rise the debt will become unsustainable. Now of course the Feds may engage in further printing splurges eventually rendering the dollar almost worthless. The enemies of America need only wait. It is about to destroy itself. Sadly it has failed to learn from the Greek experience.

In the last four years the National Debt has risen from 11 Trillion dollars to 16.436 Trillion dollars now. This is economic lunacy. The Tea Party advocates a balanced budget and public expenditure cuts. It is correct in its analysis. The current borrowing orgy cannot continue.The Tea Party people are painted as extremists. Since when is it extreme to want to live within your means? Since when is it extreme to want a BALANCED BUDGET? Wake up America. It is now time for sound finance and an end to pork barrel spending. America cannot award itself a standard of living which it cannot afford. Many American politicians have caught the European disease. They buy the voters with borrowed money and their own (the voters) money. These politicians must be voted out- irrespective of party.

It is time for the Tea Party to roll up its sleeves and set about the task of ensuring the election of Congressmen and women who will tackle the national debt and pork barrel spending and waste. The political cowards are a far greater threat to US greatness than Al Qaeda. They are bartering away economic sovereignty. The country is being destroyed from WITHIN by many of its politicians.


rainywalker said...

A large percentage of the people just do not care as long as they have a bob in their pocket.

John Barry said...

I agree. It is the same in Europe.