Not only is this country going broke, but most of Europe is going broke as well. In this country, strangely, our President bemoans the effects of the sequester, while, at the same time, continues to support massive transfers of your wealth to all sorts of energy subsidies. Someone is now questioning that.
The International Monetary Fund, hardly known as a right-wing conservative think tank, took a look at this issue. Their assessment, issued yesterday is hardly flattering.
Energy subsidies [both here and abroad], it says, aggravate budget deficits, crowd out public spending on health and education, discourage private investment in energy, encourage excessive energy consumption, artificially promote capital-intensive industries, accelerate the depletion of natural resources and exacerbate climate change.
Basically, the IMF thinks the money could be better spent elsewhere, perhaps on important things like, for example, what the citizens need.
Anyone want to guess whether this assessment will have any impact on this administration.?
My view is that the Obama Regime is continuing to give taxpayer money to liberal Democrats who then in turn write a check and contribute to the Democrat PACs, the DNC, and their own pension funds.
It is taxpayer-funded, liberal Democrat cronyism. The Regime can’t offer an accounting of where the money goes or, more exactly, went. It is gone. Not one of the management of a Solyndra, First Solar ($1.46 billion!!!!), or any of the other boondoggles, had to rely on unemployment to survive.
All of this green energy funding is wasted money. It only enriches the Friends of Barry.
I’d read something that the US govt has gone after two credit rating agencies that dared to downgrade America’s credit rating. ?When the borrowing stops, the spending stops, and then another big bubble bursts- unexpectedly!
Bursting bubbles are not good. Housing, financial, tulips, stocks, precious metals, all are subject to bursting.
Price growth at an unsustainable rate leads to “correction.” If on a large enough scale, the correction causes prices to crash, markets to contract and confidence to vanish. Debt deflation and the Financial Instability Hypothesis indicate bubbles burst one after the other, with the most leveraged assets falling first. (The US securities propping up the debt?)
That credit rating agencies have downgraded any country’s ratings is just prudence on their part. The down-grading of Americas credit rating should be an alarm to many. Yet the current Regime blithely skips down the path spending borrowed money.
People are freezing in Britain, 250,000 since 2003. The taxes and fees added to fuel oil because of “global warming” by the Secretary of ?Energy and Climate Change, Secretary Davey have made it too expensive for people to heat their houses adequately.?http://www.telegraph.co.uk/health/elderhealth/9959856/Its-the-cold-not-global-warming-that-we-should-be-worried-about.html?Will we in the US learn from Britain’s mistake?
No, $ocialists repeat the mistakes over and over again, each time certain they will get it right this time!
That sounds vaguely familiar…..?? 😉
more gov mismanagement, malinvestment