First, the phony debt crisis. The U. S. does not owe 25 times its GDP, nor 50 times its GDP, as is common among successful corporations. The country owes 1 times its Gross National Product for a year. Greece owes 30 times their annual country wide economy. The hysteria about debt is driven by wealthy creditors like China and the big banks who want to be paid today rather than over the term of the note they took.
What Republicans/Tea Partiers are doing with this panic is attempting to return us to the 19th century and to forget all the economic lessons of the 20th century. They want the good old robber barons back in business, themselves, of course, the cartels, think too big to fail, the monopolies, charity based social services only, infrastructure for the wealthy and crumbling infrastructure for everybody else. Where are the debtor’s prisons in their plan? Dickens couldn’t have written it better.
They want government that serves only their limited interests, the smaller the better so they can bully it more successfully. They refuse to think about the environment, the weather, anything outside of their own gated community. What will make them richer now, what will make their lives even easier today? They accuse us of wanting to leave nothing but debt to our grandchildren but they want to leave a ruined planet and a country without a strong infrastructure and only old, outdated technology. Investing in the future doesn’t make them fatter today!
They are Hell bent on turning the U. S. into a third world country with themselves as they wealthy landowners and the rest of us as serfs. But at least the debt will be smaller.
