Our financial crisis can be attributed to our sex crazed congress that can’t seem to attack the $14 trillion deficit problem. Far bigger is other balance sheet problems. For example, Medicare is $80 trillion and Social Security is $7 trillion unfunded. Our credit rating has defaulted What does that mean? It means the American dollar can quickly become the Mexican peso, not worth much!
We need to get serious with poorly run essential companies. Obama was well intentioned by giving companies bail out money. But he just gave GM and AIG cash with no congressional committees to oversee the spending process. When a teenager totals his car, you just don’t give him money to buy a new sports car. No, he has to work hard for his next car or he walks. Even Diane from Ohio knows that.
Throw the CEO, CFO and the risk officer of any company in trouble OUT fire the bastards that already pocketed millions in bonuses and inflated salaries largely untaxed. America is about to default. Let the banks we saved save America! Lend us money and we’ll pay you back uh whenever duh!
Why the delays? America is broke because we have three parties. The Democratic, The Republicans and the Tea Party group all fighting with each other with no compromises. The tea party is known for their peaceful protests. The democrats want everything for free and the new Republicans run by the Christian rite want to pray for change.