The Unsustainable Empire of Debt August 24, 2010

by Will

Will Grigg?s Liberty Minute

August 24, 2010

Boston University economics professor Laurence Kotlikoff warns that the real national debt ?including unfunded liabilities such as Social Security, Medicare, Medicaid, and off-budget military spending ? is $202 trillion.

This illustrates a fact Americans find difficult to comprehend: Our supposedly free economy is at least as socialist as that of the former Soviet Union. The chief difference is that American socialism is built around inter-generational redistribution of wealth.

Gerald Celente of the Trends Research Institute predicts that the United States of America may soon suffer a Soviet-style implosion.

Celente points out that America, like Soviet Russia, is burdened with a self-replicating nomenklatura, or economic and political elite that is plundering the country?s wealth and squandering it on an unsustainable imperial foreign policy. Celente takes note of the ominous historical symmetry found in the fact that America ? like the Soviets, the British, and Macedonians before us ? is now trapped in a futile war in Afghanistan, the "graveyard of empires."

Let us take back the liberty wherewith Christ has made us free.

No feedback yet