Watch This Short But Shocking Video on Gov't Gone Wild

[John317]

At least I found it shocking. I hope it's wrong:

http://www.youtube.com/embed/VtVbUmcQSuk

[Dottie]

My computer only made it through half of the video. Maybe it got shocked! But yes, from what I've heard from other sources, it's true.

[LifeHiscost]

At least I found it shocking. I hope it's wrong:

http://www.youtube.com/embed/VtVbUmcQSuk

Does the world need any further evidence that we are not saved by capitalism or a republican form of government.

"He which testifieth these things saith, Surely I come quickly. Amen. Even so, come, Lord Jesus."Rev 22:20 KJV

God blesses!

[ClubV12]

There is a lot of hype and miscalculated numbers in the video. I don't want to discount the severity of the problem, but I wouldn't want to dramatically overstate it either. A lot of the problem with the video is how they do the counting. One glaring problem is looking at the debt in comparison to taxes paid the Federal Government. At a glance, it is impossible to EVER pay off the loan by using tax money alone. What taxes are those? Income tax only? How about Medicare tax, Social Security tax and a myriad of other taxes collected? No doubt this is also a combination of public and private debt. Economics of this size are almost impossible to really understand, even for those with a Ph.D. in economics. A scary thought in itself!

One quick way to get a base line on the problem is to look at the GDP as a percent of debt (ALL debt, which is a complicated calculation itself). The USA is about 97% (round number). The UK is closer to 400% of their GDP. An example of over simplification could be, we have about 25% of the debt that the UK has, so were "looking good".

Fact is, nobody on planet earth is "looking good". It's a global economic structure, what happens overseas, or here, can and will impact the world economy in a good or bad way.

About 45% of our "debt" (a word begging for clairification) is owned by foreign countries. Treasury bonds and such things as that. The "world" likes to invest in America, because we pay our bills.

I've seen a bunch of charts indicating Obama has raised the debt level much higher than Bush did in his eight years, for instance. But again, it's misleading. Obama inherited massive debt the day he took office. Bush implemented TARP, as one example, Obama carried it out within days of entering office. But who really started THAT debt, which Obama took the heat for?! Bush, actually.

There is no doubt about one thing, we have to raise taxes, period. It was the tax relief programs of the 80's that is directly responsible for todays debt. That was a massive mistake, in hindsite.

[phkrause]

At least I found it shocking. I hope it's wrong:

http://www.youtube.com/embed/VtVbUmcQSuk

I'd say its absolutely right. But the funny thing is, whenever we need money for this war or that one, or we need money to send to some other country, take care of a national disaster, it just shows up. Its very hard to know who speaks the real truth. I do know my Bible tells me things are going to just get worse and worse.