The Top-10 Budget-Deficit Time Bombs
By Bob L.![]()
![]()
Like the song says “Our Day Will Come”! And our day is coming sooner then you think.
___________________________________________________________
By Terry Easton
02/18/2010
If you’ve read the press releases being put out by Washington these days, you’d be convinced that the big bad Bush-caused recession of 2008-2009 is now safely beyond us.
Tain’t so.
If fact, the hoary mess which began under the last days of Bush & Democrats guarantees that Obama & Democrats will continue to take us down the rat-hole of national bankruptcy.
Here’s why.
The problem dates back a long way – to the “New Deal” days of Franklin Roosevelt and the “Great Society” days of Lyndon Johnson. Big spenders both: of your money.
In 1933-1936 FDR created his big wave of so-called “progressive” legislation. The Agricultural Adjustment Act became law in May, 1933. The AAA paid farmers to not grow food. It still does.
In 1935, the Social Security Act created Washington’s Ponzi scheme, misrepresented to the voters as an insurance retirement program. It promised to invest worker payments in safe securities to pay for their future retirement.
Instead, SS payments – really taxes – are paid into the Federal Treasury and spent that year. The Government then issues Treasury Notes (IOU’s) to a mythical Social Security “Trust Fund”. In other words, the Government’s left pocket pays its right pocket with IOU’s from your pocket. Read the rest of this entry »
© 2010, America the Beautiful. All rights reserved.



The government already has made so many promises to so many expanding “mandatory” programs. Just keeping these commitments, without major changes in taxing and spending, will lead to deficits that cannot be sustained.
















