The Independent Daily
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An Online Journal of Independent Views & Discussion
June 7, 2013
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Published in Northern Arizona, USAhttp://www.TheIndependentDaily.commailto:editor@TheIndependentDaily.comshapeimage_2_link_0shapeimage_2_link_1

Barak O’Deficit

Reuters: "’You have never seen in the history of the United States the debt ceiling or the threat of not raising the debt ceiling being used to extort a President or a governing party,’ Obama told a group of business leaders.”

Want to know why? Because there has never before been a Deficit of this magnitude in the history of the United States. Here’s the data:

2000 Budget Deficit, $5.6 Trillion

2013 Budget Deficit, (a very fine hair away from) $17 Trillion, or a 330% increase in the last (less than) 13 years.

At no time in the history of our country have we been so far in debt - far beyond our GDP of $15.6 Trillion. This is a very precarious position.

Most of our indebtedness in the past 13 years has stemmed from fighting our largely exaggerated War on Terrorism leading to our incursion in Iraq - ill-founded and driven by the capture and expropriation of the Majnoon and West Qurna Oil fields for the benefit of Shell and Exxon-Mobil, and of course, Halliburton. Anyone who imagines that we did it for other reasons represents that segment of our population who necessarily fall below average intellectually, such as our own John McCain.

The same people, now being joined by Barak Obama, are itching to get their hands on the vast Syrian resources currently being piped off to Russia and China. If we do find ourselves in Syria, imagine that our Debt will once again take a large step forward, re-directing that money to the typical beneficiaries: Halliburton, Exxon-Mobil...and on and on.

Consider this: According to our own Bureau of Labor Statistics, 49% of our Workforce no longer actively participate in work and are supported through other programs or flatly remain in Poverty subsisting through whatever means they may.

Manufacturing employment remains at a dismal 9%, down from 40% in 1950 when our National Debt was $237 Billion, or a very small fraction of where it is today.

In the last three plus years we have placed nearly $4 Trillion into the pockets of US Bankers in the form of stimulus, which only now - today - the Fed is leaning toward trimming. To whose actual benefit? Read, US Banking Industry Record Profits, column left. Then, read, Forget the Fiscal Cliff, at this link.

At this very moment, our Trade Deficit for 2013 only, is $352 Billion. Accrued Trade Deficit is in the Trillions of Dollars, representing much of what America has sold off, and that which is  now owned by others: both by individuals and by the governments of China, Vietnam, India, Germany, our great “ally” Saudi Arabia, South Korea, and even Mexico...and there is no way out.

How shall we extricate ourselves from this state of indebtedness? It cannot happen.

Anyone foolish enough to think that we can emerge from this vast rift of debt through our present form of government is delusional.

It must either change through a quietly conducted revolution at the Ballot Box, or through a more dynamic paradigm. Time will tell.