Monday, January 21, 2013

"... unsustainable fiscal path..." - GOA

On January 17, the Government Accountability Office released a report, with the line "... absent policy changes - the federal government continues to face an unsustainable fiscal path... the dollar will collapse..."

A talk show host observed, "... Most Americans are not willing to listen. Even worse, many are not even smart enough to listen..."

Let me acquit myself here. I'm normally not a fan of this talk show host nor those of his ilk. But on this point, he is bang on. This transcends left and right. The consequences will impact everybody in America. And not just Americans, but Canadians, Europeans, and others currently under the U.S. influence.

What does the collapse of the dollar mean? It means that your savings may amount to a fraction of their previous worth, and the dollars in your pocket won't be worth much more than the paper they are printed on, which also means that a gallon of gas may cost $40 rather than $4, which in turn means that the transportation system may grind to a halt.

One thing I do disagree with the report and the talk show host. They advocate a gross reduction of government spending alone. Although this is important, it is only one side of the coin. An increase of revenue is just as important. To raise taxes on only the top 2% making more than $450,000, while those making $390,000 per year can continue to live in luxury, simply won't cut it. If/when the economy falls, they too will fall, and fall the hardest.

But one thing is for certain. This has now hit the mainstream media. There is no place for it to hide.

Anthony Marr, Founder and President
Heal Our Planet Earth (HOPE)
Global Anti-Hunting Coalition (GAHC)

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