Today's GOP = Hoodwinkers
My grandchildren will benefit from the destruction of the jihadists and the rebuilding of the Gulf region, so it’s fair they bear some of these costs.Will 'the grands' benefit from us owing our economic existence to China? Will they benefit from a wrong-minded foreign policy that will result in China securing cheap fuel from nations that we sanction and alienate? Will we be so beholden to China in our grandchildren's lifetime that we will have to make compromises in foreign policy that will be a certain bane to Human Rights? The looming U.S. inflation rate has been theatening to force us to make difficult consumer spending decisions. We can't afford the gas to get to work, let alone to take a vacation. Working their asses off for the few millionaires (at the expense of the many), the Bush administration isn't budging on putting off their precious tax cuts, ignoring the fact that tax increases might have offset the rise in spending from emergency bills for post-hurricane Katrina reconstruction. While the GOP is refusing to stall tax-cuts to their richest campaign contributors, squeezing us consumers will only make things worse, especially when there's no room to reduce government expenditures in "non-essential" areas. The poor in America are going to become poorer - and millions of the working poor will face abject poverty. Let's face reality - the budget deficit is going to seriously deteriorate. We'll be looking to China and some other Asian nations for funding of our increased requirements. The Fed is tightening their belt - which means we will have to tighten our belts. As global interest rates rise, so will costs of borrowing from China.
Jerry Bowyer - NRO
If we reduce spending elsewhere in order to fund Katrina rebuilding, then we’re borrowing money to build long-term capital assets.If the GOP can dismantle the social safety net by "reducing spending elewhere," we are going to have a society that has lost the American dream of individual opportunity. If we continue to reward only the few with economic policy, we only raise the boats of the rich few while the many poor are sucked under the waves.
What would happen if the Asian central banks should suddenly refuse to add to their dollar holdings or even reduce them and instead decide to invest their surpluses in euros? Surely, such a reaction would lead to much international turbulence and severe economic crisis.....The present situation of American deficits and foreign credits may continue as far as the eye can see. After all, an old monetary order, which had been created at the 1944 Bretton Woods Conference, withstood much international disorder for more than thirty years. Some economists and their friends in government like to note the similarities of that order with the new. But this economist does not see the semblance. With his eyes on huge trade deficits and foreign debts and on grave international conflict and strife he braces for more commotion and crises to come. [Dr. Hans Sennholz - Daily Reckoning]Following the current economic-policy direction of this country, a few of our grandkids will wind up fat and cozy. The vast majority of them will wind up making minimum wage, living from paycheck to paycheck, and clinging to a mythic American promise that today's GOP never intended to keep.
How much worse does it have to get before even the Freeper-types and Bush "Stepford town-hall-ers" discover that the Republicans have hoodwinked them?