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&dist=msr_2

[GoesTo11]

1. We didn't have a surplus of $5 Trillion in 2000

True, our $5 Trillion debt was projected to be reduced much closer to zero over the next decade, and instead it has doubled, at the worst time. But Bush has "only" increased the debt by $5 Trillion, not $15 Trillion.

[kurth_]

2. Eight years of BushCo spending like a drunken whore