I have referred to the “Stimulus” bill as the Bankrupt the Nation Act of 2009 here, here, here, here, here, and here. Now we have Senator Judd Gregg (R., N.H.), the man who Obama wanted to be Commerce Secretary, confirm what should be obvious to everyone: we are on the road to national bankruptcy. Heaven knows this problem didn’t start with President Obama. However, his misguided policy of multi-trillion dollar annual deficits will push us over the brink into national insolvency. We are in for very tough economic times for a very long period.
I don’t believe that our current economic system actually works. Capitalism by design is extractive and in order to generate profit in