The America of 2013… (GyG: See Gov Richard Lamm, Related Articles This Post)
Americans take great umbrage whenever they, as a society, are portrayed by the residents of other nations as self-centered, avaricious and overbearing. While an egregious exaggeration in the past, is it an accurate description now? Who are the American people today and what sort of country is the United States in 2013?
How does one describe a society wherein a majority of the people, and their elected leaders, have embraced the following mindset?
a) The United States can commit to unlimited government spending as the long-term future of the nation is immaterial and will take care of itself.
b) Based on 66 years of unprecedented economic growth and prosperity, the good times will never end and America will under no circumstance experience massive national adversity as there is a bottomless pit of money to be siphoned from an equally bottomless pit of wealth.
c) Since the dollar is the international reserve currency, the United States, in order to cover massive budget deficits, can arbitrarily create trillions of dollars out of thin air regardless of any consequence for the nation or global economy.
d) There are no limits to personal behavior and the arcane concepts of decency, honor and integrity are from a bygone era.
In just four years the United States has accumulated nearly $6 Trillion in debt. The national debt is now $16.5 Trillion or 32.5% of the world’s total indebtedness (the U.S. accounts for 5% of the global population and 20% of the annual Gross World Product). Further, the total unfunded liabilities (state, local and federal) of the U.S., as of 2012, exceed $238 Trillion, or 3 times the annual Gross World Product (total economic activity of all the countries on earth). The United States is, today, the most indebted and bankrupt nation in the history of mankind.
(Excerpt) Read more at americanthinker.com …
via The America of 2013.