GAO chief warns economic disaster looms

In an AP article at Yahoo.com  (same title as above), David M. Walker , the comptroller general of the United States talks about the incredible debt we will be seeing in the future.  Tries to act like it's all the doing of the last 5 presidents it seems, but we can remember ourselves that Clinton left us with a surplus. The return to deficit was the doing of George W. Bush and his loyal Republican buddies in the Congress.

And the article seems to suggest that the solution to our problem is to cut off the baby boomers and generation Xers who have contributed more than any other generations to the Social Security Program, and are  being targeted for a greatly reduced return from what (former Treasury secretary) Paul O'Neill called <paraphrased>the most important contract between the American people and its government ever </paraphrased>.  As housing prices in the cities are going out of sight, they want to take the nearly 13%-15% average of our wages put into Social Security every year on our behalf and cut us down to where we are living on the streets?

You might want to add up 14% of your salary over your working life.  Add to that  in accordance with the interest rates on your credit cards for the interest the US government owes you on that.  That's what the Republicans will owe you for retirement, but you won't see it if the Republicans keep control of the Congress.

The article makes sure to note that the GAO head is an "honest man", who supposedly won't lose his job for telling the truth.  I doubt that if he stepped on Republican toes he would keep his job, and he is actually working for them, obviously ,as he is calling for something like Bush's Social Security reform.

Alan Greenspan was an honest man.  He honestly felt that whatever he could do to help the rich get richer was good and he followed through on that at the Fed throughout his tenure.  When early 1999 rolled around and it looked like Al Gore would win the presidency based on the great Clinton economy, Honest Al honestly crashed the economy*.  No problem.  Just honestly follow your heart. 

Henry Hyde was called an "honest man" by the mainstream news media when the investigation of Bill Clinton fell into his lap.  A few months later they were finally admitting that he wasn't such a good choice, but they've never admitted the partisanship of many
Republicans in Washington.


But the numbers coming up on economic growth as shown in a post below says there are big problems ahead even sooner than the GAO chief thinks and, yes, with the Republican tax cuts for the wealthy, draining the system it could be an ugly scene for those of us who have to pay 15% of our wages for a program that won't be there if the Republicans stay in power.

This is another reason why we need to let the Republicans experience the disaster in this upcoming election.  They don't serve us. They have fooled Americans before by claiming they will stand up agains the worst desires of those behind the Bush administration only to change their skins right after the election. 

Remember?  They did this 2 years ago with CAFTA.  After many Republicans ran on platforms saying they would stand against the onerous Caribbean American Free Trade Association, over 87% of GOP Representatives voted for the pact shortly after the election.  At the same time, though Democrats were more muted in their opposition to CAFTA, over 92% of them voted against it.

This post in a forum shows the summary of the CAFTA vote and has a link to full vote information where you can look up your representative to see if they voted for CAFTA.

The questionis:  Which party  can you trust to stand against the Bush administration, and to be honest about what they will do in the future?


*The fact that Alan Greenspan caused the downturn, recession and stock market problems that started in the very late nineties by raising interest rates and keeping them high too long has been noted by various sources including Republican Steve Forbes. Here's an early blog's notes on that (the framing of the information part doesn't work well with the later browsers so I've linked to the  information page itself.  The link at that site can still bring up the article by Mr. Forbes that reminds us that the "fed" caused the downturn as part of his reasonings). (Return to your place above)

tags: cafta  republicans  national debt  bush  election  

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