President Obama in his recent address on the budget (where he ignored his previously proposed budget) lambasted Cong. Ryan even after having invited the Congressman to sit in the front row. Well that will build goodwill toward solving the problem. But maybe, he never was in favor of solving the problem. If you believe Cloward-Piven, this is exactly on track with their plan to bankrupt the country and create social upheaval to the point of revolution. The problem with Cloward-Piven is that the disruption of government also results in the disruption of social services, so the poor are disproportionately hurt. But at least those that espouse the theory will be happy that the current situation will be ended. That is, that they think the poor will rise up and eat the rich I guess. It makes no sense, but it does seem to be the path that we are on.
Another option is to raise the taxes on the rich. A favorite of class warriors everywhere. We must punish those that have more than we do. Why? I still haven't figured that one out. But again, class envy is on display and it is not a pretty thing. The Progressive Caucus of Congress is even proposing a tax of 90% on all income over $106,000 a year. What a wonderful idea! Sure, taking everything (and I mean 100% of all income of the top 25%) wouldn't close the deficit, it would make Progressives feel better. But they seem to lack the understanding that if you are a high income earner, that if confronted with the choice of working 80 hours a week to make a net $10k in take home per year, the majority are going to decide that it's time to close the business and retire. That will really end their ability to be rich, or employ people, or invest, or even to pay taxes at the same rate they are now. The Left seem to believe that the rich are hard workers and will continue to work just as hard for no incentives. I think that they are wrong, but time will tell.
So, in either case under the proposals of the President and the Democrat Party, we will not close the debt, we will destroy the country and unemployment is going to make the Great Depression look like a walk in the park. But they also are using Qualitative Ea&sing to inflate the dollar to cover the debt. This will result in a complete destruction of personal savings, and forcing old people on fixed incomes to clip coupons just to buy their one can of Alpo they can afford each day. Not to mention it will be impossible to buy a home on a mortgage of 21% or more.
Hope and Change, and the unbelievable thing is that Obama may get re-elected because of the weakness of the Republican Presidential candidates.
My advice is to face the facts and grab all you can before it all goes to hell. There is no hope with this administration that either consciously or not is working to destroy our nation. It's too late, unless you have enough savings to flee to Australia. Oh wait, they are no different either.
Damn, what's a sensible person to do?