View Single Post
Old 03-28-2009, 12:07 PM   #1
Quest For Seven
MACH1's Avatar

Join Date: Oct 2006
Location: Potataho
Posts: 15,222
Member Number: 3236
Thanks: 2,307
Thanked 6,950 Times in 2,566 Posts
Default Obama turning the U.S. into a banana republic?

People need to wake up and take off the blinders and see whats happening, put down the koolaid steins or kiss your freedoms goodbye.

As the Obama administration continues to pile debt upon debt, it is now being compared to a "Banana Republic", a derogatory term that describes a country that implies gross inefficiency and corruption, and led by a dictator. It is being identified by two senators with that description because of what is happening in the United States today.

Of special notice is Obama's use of "signing statements" and "state secrets", following exactly what George W. Bush did, to say nothing of the trillions dollars of debt that have been incurred during the first two months of his presidency.

If anyone needed further proof of hints of a "banana republic", the recent Obama plan to seize non-bank financial companies in another power grab should be sufficient. This is usually seen in dictator-led Latin American countries not in democracies.

It should have surprised no one when Sen. Judd Gregg (R-NH) and Senate Minority Leader Mitch McConnell (R-Ky) called attention to the Congressional Budget Office announcement that Obama's program will put the U.S. in debt for $9.3 trillion over the next decade.

The senators warned that:

President Obama's budget will lead to unsustainable debt levels and send the country on a fiscal path resembling of that of a "banana republic."

The president's budget spends too much, taxes too much, and borrows too much.

I don't think I've witnessed this level of unease about a budget certainly in the time I have been here. We can't afford this.

Such deficits would trigger a national debt that amounts to running your country into the ground.

What's being proposed here is a massive increase in taxes in order to massively increase the size of government and have virtually no fiscal discipline on the side of borrowing.

The two senators message should have been a wakeup call to Americans. In their words, America now has a debt that is not sustainable and which comprises 80 percent of the Gross National Product (GNP), a ratio that is seen in banana republics.

Meanwhile, the Obama adminstration said the new projection of debts running into trillions of dollars won't stop him from achieving his goals. When he says that he will cut the country's red ink in half within four years, is there anyone left who belives him?

MACH1 is offline   Reply With Quote