How many times can Congress re-invent ways to avoid doing it's job? With the imminent and pending failure of that ridiculous "super committee" will the super committee and congressional leaders devise another method of pushing debt resolution past the 2012 elections? http://www.washingtonpost.com/politics/can-anyone-here-make-a-deal/2011/11/14/gIQAVbAJLN_story.html
Check out the debt clock. Look at the third entry. I owe 133,000 dollars. So do you. Say hello to 15 trillion! http://www.usdebtclock.org/
The super committee has no win. It never did. It cannot cure the debt problem, the minimum cuts are essentially insignificant, raising taxes on the rich is a waste of time. The rich are far too concentrated and polarized. There are only about 300,000 liquid multi-millionaires and billionaires. They have all of the dough. So cutting spending is the only real alternative. Are they hoping that the millions and millions of people like me are going to bail us out?
My share of this debt is 133,000. I have not received one food stamp, one dollar in unemployment or any other government handout.
I am the new canary in the coalmine. You see, I can't pay 133,000 dollars. I can't even pay the 4000 dollars in interest per year that it will take to service the US treasury holders on my share of this debt. Without paying one thin dime in principal, 4000 dollars a year represents 350 dollars per month (NET after taxes) that I don't have. And gawd help us if interest rates rise significantly off of these cellar dwelling levels.
I can't even pay my taxes this year while the FED inflates away my fixed purchasing power. Inflation, the hidden tax.
What I am saying is this. We are overwhelmed. The United States Government and the IRS better get the debtor prisons ready because the canaries can't pay. They are going to need more money to finance more prisons and staff. The US government has literally bankrupted the tax payers of this country and then told them they cannot declare bankruptcy on a debt which individually- they did not incur. You would think there has to be sever ability here. How can the government pledge my work product as collateral- seemingly without limits?
The criminal class (Congress) writes the checks and charges without restraint and enjoys the proceeds of it's purchases thanks to the unlimited credit lines of the FED. It then sends the bill to the victims. If the victims cannot pay, the criminals punish the victims. It's like letting the rapists beat their victims. Are you beginning to see the utter insanity of this? Boy I sure do- although the bars on my bird cage tend to obstruct my view a little.
Please be sure and let me know when the weird shit happens.