From The Ramparts

Deep Moral and Fiscal Dodo

Deep Moral and Fiscal Do Do

“More troubling still is the federal government’s overall financial condition and long-term fiscal imbalance. While the fiscal year 2005 budget deficit was lower than 2004, it was still very high, especially given the impending retirement of the “baby boom” generation and rising health care costs. Importantly, as reported in the fiscal year 2005 Financial Report of the United States Government, the federal government’s accrual-based net operating cost—the cost to operate the federal government—increased to $760 billion in fiscal year 2005 from $616 billion in fiscal year 2004. This represents an increase of about $144 billion or 23 percent. The federal government’s gross debt was about $8 trillion as of September 30, 2005. This number excludes such items as the gap between the present value of future promised and funded Social Security and Medicare benefits, veterans’ health care, and a range of other liabilities, commitments, and contingencies that the federal government has pledged to support. Including these items, the federal government’s fiscal exposures now total more than $46 trillion, representing close to four times gross domestic product (GDP) in fiscal year 2005 and up from about $20 trillion or two times GDP in 2000. Given these and other factors, a fundamental reexamination of major spending programs, tax policies, and government priorities will be important and necessary to put us on a prudent and sustainable fiscal path. This will likely require a national discussion about what Americans want from their government and how much they are willing to pay for those things.” Government Accountability Office Testimony Before the Subcommittee on Government Management, Finance, and Accountability, Committee on Government Reform, House of Representatives

AmeriKKKa as a nation is in deep trouble fiscally, morally, spiritually and physically. It’s as if DIVINE JUSTICE or KARMA has caught up to this nation. It’s as if the thing Thomas Jefferson feared the most has come to pass. In his Notes on The State of Virginia, the pedophile, slave owner and rapist Thomas Jefferson probably lamenting more for himself than for AmeriKKKa said, “When I consider that God is just, I shudder for my country.” Well Tommy boy, the day of reckoning is at hand. The manifold sins, wickedness and hubris of your ilk, kith and kind and those you were able to dupe, coerce, manipulate and lead are being weighed on the scales of Ma’at (Divine Order, Harmony, Equilibrium, Truth, Justice, Rectitude and Reciprocity) and found wanting. By its own hand, not the arbitrariness, capriciousness, vindictiveness or perniciousness of some white god sitting on the throne out in space, but by its own actions, AmeriKKKa has reached this point; reviled as a rogue nation, a bloodthirsty, rapacious, villanous collection of wolves in sheepskin waiting to pounce on the world. Alas the AmeriKKKan empire may be very short lived. Its’ leadership was able to couch and disguise its crass imperialism in grandiose terms such as “Manifest Destiny”, “The War To End All Wars”, “The Cold War”, “Operation Iraqi Freedom” and other nonsense, but the truth is steadily being revealed, AmeriKKKa is just like all the other European powers, a blood sucking parasitic leech, a cancer on humanity. AmeriKKKans who support and acquiesce to the fascist imperialist hegemony of the present leadership of both political parties will reap just as previous empires suffered and collapsed, some swiftly others drawn out over time.
Looking at AmeriKKKa in 2006 we see a government which is really an appendage of the corporate rather than familial oligarchy (although prominent families play a vital role running this fascist system) is about to implode from deliberate fiscal mismanagement, maleficence, out and out fraud and criminal conduct. In it’s most recent review of the US government’s fiscal status, the Government Accountability Office states quite plainly the government is in perilous shape. “For the ninth consecutive year, certain material weaknesses in internal control and in selected accounting and financial reporting practices resulted in conditions that continued to prevent us from being able to provide the Congress and American people an opinion as to whether the consolidated financial statements of the U.S. government were fairly stated in conformity with U.S. generally accepted accounting principles (GAAP). Further, we also reported that the federal government did not maintain effective internal control over financial reporting (including safeguarding assets) and compliance with significant laws and regulations as of September 30, 2005. Until the problems that I will discuss today and that are discussed in our audit report are adequately addressed, they will continue to have adverse implications for the federal government and the taxpayers.”
I suggest you download and read the 2005 GAO report at www.gao.gov/cgi-bin/getrpt?GAO-06-406T., it is a lengthy accounting document but a real eye opener. The report reveals the fact various federal government agencies do not accurately report their agency’s financial transactions which leads to massive unaccounted for funds (potential fraud and theft) and one of the most egregious agencies according to the GAO report is the Department of Defense (it’s really the Department of Aggression/War). Couple this report with the fact the US Congress recently raised the debt ceiling to forestall (not prevent ) a major default on US Treasury bills, the spiraling federal debt, the escalating trade deficits and a President and Congress bent on bankrupting the nation, and we are in deep do do. Bu$h campaigned as a“Compassionate Conservative”. Some of us already knew but most have now discovered the hard way, Bu$h is neither compassionate nor a fiscal conservative. Taking their cue from Ronald Reagan and his brand of “voodoo economics” Bu$h and his NeoCon buddies in both political parties went on a tax cutting/ spending rampage which has now consigned AmeriKKKa to the global poor house because of their reckless spending, deliberate mismanagement, perpetual wars and out and out theft. Dubeya makes the international drug trafficking and the Savings and Loan scams his father and brothers ran look righteous by comparison. Even that global loan sharking shake down operation known as the IMF is saying this present course is unsustainable; but the Bu$hites and NeoCons have both hands on the throttle, it’s full speed ahead the public be damned
Joe and Jane Sixpack have no clue what is about to hit them. All they know is their home equity and credit cards are tapped out, their paychecks can’t keep up with rising costs and things don’t look good for either the short term or long haul.(The Fed has ordered the printing of trillions of worthless paper money called fiat currency which will raise the cost of everything and the new Fed Chairman has already raised interest rates which will cause debtors even more financial pain) Foreclosures already at an all time high, are up, bankruptcies increased in 2005 to beat the deadline before the new bankruptcy law took effect in October of 2005. “Personal bankruptcies soared 30% to a record high last year as financially strained people rushed to file before new restrictions took effect Oct. 17. Bankruptcy petitions filed in federal courts totaled 2,039,214 in 2005, up from 1,563,145 in 2004, according to data released Friday by the Administrative Office of the U.S. Courts. A new law, which brought the most comprehensive revision of the U.S. Bankruptcy Code in a quarter-century, made it more difficult to erase debts in bankruptcy. Before its enactment, the number of bankruptcy filings had been fairly stable.” http://www.usatoday.com/money/
Keep in mind the new Bankruptcy Laws was written not by our elected representatives, but by the banks and credit card companies whose lobbyists’ shmooze, grease the palms of and contribute to the political campaigns of our congress critters who dutifully passed it; prostituting themselves again one more time. It’s an example of action-reaction, cause and effect. There is no escaping the LAW of KARMA. We are where we are at any point in our lives due to the decisions (conscious and/or unconscious) proactive and passive we have made. If we keep doing what we’ve been doing (allowing others to sell us out and manipulate us) we’ll keep getting what we’ve got (a morally and fiscally bankrupt government). If we want change ( to a better, more humane system) we’ll have to make it happen

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posted by Junious Ricardo Stanton @ 10:53 AM