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[Don Bowen <don.bowen AT earthlink.net>]

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.  
> From erthnsky AT bellsouth.net  Thu Nov 30 11:49:44 2006
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Date: Thu, 30 Nov 2006 11:47:34 -0500
From: EarthNSky <erthnsky AT bellsouth.net>
Organization: EarthNSky Farm
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Subject: Re: [Homestead] Debt Bomb
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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