A $75 trillion fright fest: Eight megahorror debts chilling America

[marmar]

PAUL B. FARRELL
A $75 trillion fright fest
Eight megahorror debts chilling America
By Paul B. Farrell, MarketWatch



ARROYO GRANDE, Calif. (MarketWatch) -- America's out of control, drowning in debt, gorging: $75 trillion and getting worse. Now we're dumping Fannie and Freddie on America's balance sheet. Every year we pile trillions more on future generations.

Can't trust McCain? Obama? Time for new leadership! The best qualified for president is the same great American hero we picked as our favorite write-in candidate for the 2006 elections: David Walker, former comptroller general, chief auditor of the U.S. Government Accounting Office for a decade before resigning last spring. He is ready.

Walker was the "voice of reason" in Washington while Congress and the White House kept wasting trillions like out-of-control drunks, digging America deeper into debt. Nobody listened. Politicians ignored Walker's warnings, making matters worse as we went from a surplus of $5 trillion in 2000 to crushing debt that's now $9.6 trillion.

Washington tuned out, so Walker went on the road, on the "campaign trail" so to speak, taking his fiscal-conservative message directly to the people in town-hall meetings with his "Fiscal Wake-up Tours," where he spoke of a "fiscal cancer," comparing America to Rome. Now his message is a new film: "I.O.U.S.A.: One Nation. Under Stress. In Debt."

Unfortunately, the film's not a major Hollywood studio release. Why? Even with co-stars like Warren Buffett and a "Saturday Night Live" skit with Steve Martin, it'll bomb at the box office, go to video fast. The 16 reviews I read will scare people away, not draw them in.

Movie-goers would rather see a horror film classic like "Halloween," "Friday the 13th" or "Night of the Living Dead." Why? Because horror films are emotionally cathartic experiences. When you leave the theater, the horror stays behind. .......(more)

The complete piece is at: http://www.marketwatch.com/news/story/75-trillion-fright-fest-8/story.aspx?guid=%7B1E95D857%2D7CB8%2D46AD%2DB26C%2DD3732D93FD06%7D

[NYC_SKP]

1. K&R Here is the List of Eight...

So here's my adaptation of the 8 most "megahorror" debts to focus on: A format for a film festival highlighting the "The Megahorror Hits of American Debt:"

1. Horrors of Endless Massive War Debt

2. Horrors of Gluttonous, Addictive Oil Debt

3. Horrors of Trillions in Trade Deficits and Foreign Debt

4. Horrors of Killer Social Security and Medicare Debt

5. Horrors of Cheap Money, Self-indulgent Consumerism, Zero Savings

6. Horrors of Skyrocketing Health-care Debt

7. Horror of a Failing Educational System Debting America's Future

8. Horrors of Failed Leaders Triggering Catastrophic Debt Meltdown

:patriot:

[guitar man]

2. this is the result

of 28 years, starting with Reagan and his damn "trickle down" bullshit, of abdicating the wealthiest among us of any fiscal responsibility to the country which has treated them so well, allowing them to live the luxurious lives they do.

Ever since that goddamned old prune started the drumbeat of how "downtrodden" the aristocratic class in this country is, we have piled up debt on their behalf, with only the briefest reprive during the Clinton years.

Well, guess who's going to wind up paying it off, it certainly isn't going to be the powdered and pampered class, bend over folks, we are going to bear the brunt of their excesses for a long, long time. :(

[TahitiNut]

3. David Walker is a rare fellow ... honest and diligent.

I have TONS of respect for him.