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Congress CAN’T Balance the Budget.


(fear) the Fiscal Cliff...

(fear) the Fiscal Cliff… (Photo credit: MyEyeSees)

I’ve warned for most of the past five years that the National Debt is too great to ever be repaid.  I’ve chanted, “What can’t be paid, won’t be paid.”

The following video agrees:  “To balance the budget, Congress must raise taxes by 50% or eliminate the federal government.”  Both solutions are politically untenable and therefore will not be considered to any significant degree until after the economy hits the fan.

Gov-co be screwed.

Note that the evidence and arguments presented in this video presume that the true national debt is at the “official” level of $16 trillion.  I.e., even if the total national debt is only $16, the gov-co (and the American people) be screwed.

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Posted by on October 29, 2012 in Debt, Economy, Video, What Can't be Paid

 

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