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America the Broke: How the Reckless Spending of The White House and Congress are Bankrupting Our Country and Destroying Our Children's Future (English Edition) Kindle电子书
The dirty little secret that neither George W. Bush nor Congress are willing to confront—that America’s reckless spending, disastrous deficits, and exploding debt are speeding our great nation to financial ruin.
Imagine a world in which you lose your job because your company goes under, your retirement money disappears, the value of your home tumbles overnight, your bank stops allowing cash withdrawals, and your ATM card is canceled. The price of groceries has risen so fast that you don’t have the money to pay for them at the check-out counter . . . and the country is bankrupt.
That is exactly the future that economist Gerald J. Swanson sees America hurtling toward—unless we rein in our country’s reckless spending. In America the Broke, Swanson, coauthor of the runaway New York Times bestseller Bankruptcy 1995, argues that the United States is on the brink of financial collapse. Thanks to George W. Bush’s two tax cuts, the White House and Congress’ escalation of domestic spending, two wars, and an economic recession, what was a $200 billion annual surplus three years ago under Bill Clinton has become a river of red ink. The White House’s official projected deficit for 2004 is $521 billion—the largest deficit in U.S. history. With a national debt spiraling upward of $7.3 trillion, a huge trade deficit, and personal debt at an all-time high, we are standing at the edge of a financial abyss that could undermine the financial security of our families and our children’s children.
“Deficits don’t matter,” claim Vice President Dick Cheney and other members of the Bush Administration. But the facts revealed in America the Broke paint an alarming picture.
Next year’s projected deficit will exceed the amount all our cities spend on police, fire protection, medical care, and every other civil service in an entire year. It is more than we could save from abolishing Medicare and Medicaid completely.
The real deficit—the deficit the government doesn’t want you to know about—including the hidden funds we “borrow” from Social Security is nearly $1 trillion.
Rising interest rates alone could trigger staggering payments on our skyrocketing debt, soaking up every dollar the government takes in, leaving America bankrupt.
What does this mean for you and me? If the dollar goes into free fall, banks could close, businesses go bankrupt, real estate values crumble, and middle-class families could lose everything they own.
But there is hope. We can save ourselves—if we demand that our political leaders act now to eliminate the deficit and reduce the debt. In a year of deficit denial, America the Broke is a critical wake-up call regarding our government’s reckless deficit spending—as well as a blueprint for rescuing our economy and saving our country
- ASIN : B000FC1V60
- 出版社 : Currency (2004年8月3日)
- 出版日期 : 2004年8月3日
- 语言 : 英语
- 文件大小 : 1975 KB
- 标准语音朗读 : 已启用
- X-Ray : 未启用
- 生词提示功能 : 已启用
- 纸书页数 : 224页
- > ISBN : 0385513046
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But Gerald Swanson describes only the symptom, and like other economists he overlooks the disease (our moneyed political system) and the real cure (public funding of political campaigns). To expect "honesty, responsibility and good government to return to government" is a pipe dream when the fat cats who fund our political elections are paying for just the opposite. What part of "he who pays the piper calls the tune" do we not understand?
Swanson also favors privatizing some of our government functions, and I would agree if we could get private campaign money out of our public electoral system. Private companies can give campaign contributions to control the outcome of their investment; government entities cannot. One need only look at the "privatized" rebuilding of Iraq under Halliburton for evidence of the affects it would have on U.S. taxpayers.
On the health care cost crisis, the author offers only four choices: Raise taxes, reduce benefits, change eligibility guidelines, or continue borrowing to finance Medicare and Medicaid. But there's a fifth and needed action: control the spiraling health care costs which are increasing at double-digit rates! We struggle to find ways of "paying" for health care but continue to allow the medical community to run open loop while building unneeded hospitals, buying excessive numbers of high-tech scanners and ordering medical procedures that are not needed. Physician self referrals have run amok. A single payor health care system is long overdue, but both sides of the isle have been AWOL on the issue and will remain so until the $100 million per year that is given by the medical and pharmaceutical industries is replaced with public funding of campaigns.
That said, this is still a must-read book. But the author and his colleagues must now address the common denominator; the dollar bill. Congressmen are bought and paid for by special interests and they will continue putting them ahead of public interests until the funding of elections is paid for by the taxpayers. For $15 per taxpayer per year we could fund both state and federal elections and eliminate over $2000 per taxpayer per year in government giveaways. Only then will we see balanced budgets, reasonable government spending and a fair tax system. That's a bargain at a hundred times the price.