Friday, October 10, 2008

The Debt Bomb by Rudolph Penner

http://www.urban.org/url.cfm?ID=901194&renderforprint=1

I can't give this article large enough distribution. It should be required reading for every American. It succinctly describes the implications of our mountain of debt in light of the current crisis. And the opportunity it presents to the next president.

Less anyone think this is some radical libertarian think-tank, it's not. The Urban Institute is a genuine non-partisan public policy think-tank. It was founded by L.B.J. in the '60s and the trustees appear to be balanced between Republicans and Democrats. Of the names I recognize, many, if not most, are Democrats.

There is nothing but truth here. I ask that you forward this to everyone in your address book and recommend they do the same. We need to understand the larger problem. This economic situation is as important, if not more important than the war. For one thing, we'll not be able to fight it much longer if our economy falls apart and should that happen, we'll become even more vulnerable.

It matters not if either Barack Obama or John McCain is elected. They both have spending plans that will have to be canceled or severely modified. Both of them will face an enormous problem, one as president and one as a U.S. Senator. Whomever is elected, he will need our support to get our debt problem under control. This article will help convince the American people the seriousness of the problem. It would help if they would also watch the documentary I.O.U.S.A., a documentary in which Warren Buffet, a supporter of Barack Obama, appears.

2 comments:

Ed said...

You have to remember... talking about what we need to do to get back to reality will never be mentioned by the candidates. it would be a immediate death toll to the candidacy. The american people dont want to hear reality..

That is why I am giving the candidates a pass right now.

Now when someone gets into office.. then they need to talk reality, and quick.

Bush could do this now without any loss, as he is a lame duck.

I guess he is just an ass.

Cajun Libertarian said...

Well Bush may be a lame duck who has noting to lose, but Democrats aren't campaigning aginst McCain, it's Bush-McCain. It's a vote for McCain is a 3rd term for Bush, etc., etc. So Mr. Bush can't speak the truth about the bitter medicine to come without hurting McCain.