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Published on Nov 29, 2011
Flatout collapse of Euro -- hyper depression Europe's demise is actually propping up the US economy. As Obama's Debt Commission co-chair Erskine Bowles said the US economy is "the best lookin' horse in the glue factory." Obama has increased the debt more than all presidents from Washington to Reagan combined. Now he wants to spend more.
The only thing propping up our economy is the fact that the US is the best of the world economies that are all in crisis. Obama's own bipartisan commission established to study the debt problem headed by Erskine Bowles and Alan Simpson co-chairs explained the dire consequences of continuing deficit spending and rising debt. Alan Simpson (former senator from WY) said economic collapse will 'be very swift and very dramatic'. When asked why the markets haven't reacted to the US being on the precipice of collapse, Erskine Bowles said its because the US economy is "the best lookin' horse in the glue factory."
Former Treasury Secretary Rubin said the debt crisis could explode any minute. Secretary of State Hillary Clinton told the Council on Foreign Relations that our national debt is a national security risk echoing previous statements by Joint Chiefs Chairman Admiral Mullen, head of U.S. intelligence -- Dennis Blair, and all of America's intelligence agencies.
This has always been the Obama plan. Monstrous spending to redistribute wealth then raise taxes to pay for it. Alan Greenspan said "Deficit spending is simply a scheme for the confiscation of wealth." Obama and the Democrats know this.