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America's Fiscal Stupidity Mirrors Detroit

Serge9 Wrote: Mar 02, 2013 1:44 AM
Dems do not need taxpayers, they do not need a middle-class anymore. They can spend as much as they want because they have practically unlimited source of borrowing. 16 or 36 trillion US dollars does not mean anything to Obama. That is the way to convert America to a third-world country, and make the Chaveista ruling forever.
anderson659 Wrote: Mar 02, 2013 5:59 AM

If printing money made you wealthy then Zimbabwe should be the wealthiest nation in the world. They have trillion dollar notes and it takes a whole plate of them to buy lunch if you can find any place that will accept them.

Everywhere in the world fiat money is being cranked out and nothing happens, except more debt and misery. Truly socialism is at a historic moment, the socialists have finally ran out of other people's money and the results are not pretty,

It’s fitting that on the day Washington, DC is cutting the budget by an agreement that they really didn’t mean, that the city of Detroit will finally get what’s it has needed for a long time: declaration of fiscal disaster.

Michigan’s Rick Snyder has appointed an emergency city manager to do for Detroit what Obama, Biden, the UAW, GM, Chrysler, the city’s council and mayor have not been able to even with a $80 billion bailout of the automotive industry.

“Snyder’s decision comes after a state review team report concluded last week that Detroit is in a financial...