The 9 Trillion Dollar Man

In an effort to continue informing the United States citizenry as the true nature of Republican fiscal incompitence, the Senate, along party lines, raised the debt cieling by 781 billion to almost 9 trillion dollars. Distributed equally among all 300 million residents we all get a $30,000 bill to pay.

The Bush Administration is applauding this bold move. Without this move our country would begin to default on its current debt obligatioins. Basically it is taking Pay-Day loans to pay its bills. And since sooooo much of the world economy is tied into the worlds largest economy, everyone buys in to keep it afloat and keep their other investments afloat. What is good for the old USA is good for the world. But as markets in other regions mature and nations like India and China come on line as super powers, the leverage the US has had to strong arm its trading partners as the only game in town will decrease. And that might prove catastrophic for us.

To put this into context, and it is pretty hard to do with numbers like this, the US economy generates about 16 trillion dollars of economic activity each year. Yet thanks to Bush's tax cuts and giveaways our government is spedning 2 thousand million dollars a day more than it takes in. 2 billion a day in extra debt!!!!!!!!!!!!!!!!!

"Japan is the biggest creditor, at $668 billion. China, the second-biggest, recently increased its stake by $40 billion to $263 billion. " - source London Times