Wayne Allyn Root of Fox News says we are on the very brink. He cites these facts: In 1929 America was not $16 trillion in debt, plus facing over $100 trillion in unfunded liabilities. (That’s over $360,000 in debt per citizen.) In 1929, most of our states were not bankrupt, insolvent and dependent on federal government handouts to survive. (One county (Cook County which includes Chicago, Illinois) now owes over $108 billion in debt (the biggest part of it in unfunded government employee pensions). In 1929, we did not have 21 million government employees with bloated salaries, obscene pensions, and free health care for life. (Today 1 out of 5 federal employees earn over $100,000). And that’s just for starters; he has a whole gamut of reasons you should read. Read more: http://www.foxnews.com/opinion/2012/08/23/why-are-on-brink-greatest-depression-all-time/#ixzz24Px9A8yq
COMMENTS:
Too many economists are warning of impending disaster. Something has to change and it has to start
at 1600 Pennsylvania Avenue.
TODAY’S QUERIES & ANSWERS:
Q. Do you think Drew Peterson will get off his murder charge? (Jan ~ Anderson, CA)
A. If O.J. Simpson can get off, anybody can get off.
Q. What will happen if the hurricane hits Tampa and they
have to evacuate and cancel the convention? (Mindy ~ Fernley, NV)
A. Making last-minute travel arrangements for that many
people would be impossible. They may
have an abbreviated convention, but Romney will get the nomination and Ryan
will be his VP nominee regardless.
Besides, all of the blowhards will be heading to Charlotte.
Q. I see that he Democrat National Congressional Committee
has apologized to Sheldon Adelson. What’s
that all about? (Earlene ~ Willows, CA)
A. They had accused Adelson of personally approving of
prostitution at his Macau casinos. The
DNCC and the Obama campaign have been doing everything possible to marginalize
Adelson because he has pledged $100 million to Republican candidates and to
defeat Obama. The DNCC's retraction
called their allegations "unsubstantiated." Using remarkably subdued and
apologetic language, it added: "This was wrong. The statements were untrue
and unfair and we retract them.” Awww,
shucks. Do you suppose Obama will call off
the IRS agents he has looking into 2001 transactions at Adelson’s Sands Casino
in Las Vegas?
TODAY’S QUOTE:
“The Great Depression, like most other
periods of severe unemployment, was produced by government mismanagement rather
than by any inherent instability of the private economy.” ~
Milton Friedman
Milton Friedman
TODAY’S VIDEO:
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