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  • From: Don Bowen <don.bowen AT earthlink.net>
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] Debt Bomb
  • Date: Thu, 30 Nov 2006 08:37:54 -0800

At 11/29/2006, you wrote:
I wonder how much of it was borrowed in the last 6 years?
Oh well, maybe this will be of use to someone.

Want to really add to that scare? Just add in all the other debts, those that are rarely talked about, state and local debts. California just voted itself a huge bond to add to the freeway system. The ads all promised that we could borrow billions, magically make freeway drives easy and fast, and never have to raise taxes to pay for it. San Diego has to come up with a couple of billion to pay back a pension system they underfunded while over promising benefits so they could build a baseball park for the rich and add skyboxes at the football stadium.

When the bushies leave office they could well be leaving behind a $10 trillion+ debt. Much of it dumped in the Social Security trust fund. The feds stopped reporting the M3 money supply last March so they can spin the printing presses even faster. All those massive tax cuts for the rich were mostly a way of transferring money from our kids to the super wealthy. Any attempt by the Democratic Congress to rectify this will be hailed as "tax and spend" by people who have given new meaning to "borrow and spend." We may never recover from what is the absolute worst administration in US history.



Don Bowen Awl Knotted Up KI6DIU
http://www.braingarage.com
My travel journal
http://www.braingarage.com/Dons/Travels/journal/Journal.html

I am omnivagant.
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Don Bowen wrote:

When the bushies leave office they could well be leaving behind a $10 trillion+ debt. Much of it dumped in the Social Security trust fund. The feds stopped reporting the M3 money supply last March so they can spin the printing presses even faster.

They knew the Iranian Oil Bourse was approaching.

B
--
BevanRon of EarthNSky Farm NW Georgia USDA Zone 7
34.498N 85.076W Bev is Earth, Ron is Sky





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