by Mike Adams
Natural News
Thanks to the recent (and laughable) “largest annual spending cut in history” announced by Obama and Boehner, it is now abundantly evident that the U.S. government is headed toward a complete economic meltdown that will make Fukushima look chilly by comparison. While cesium- 137 may have a half-life of 30 years, and iodine-131 a half-life of 8 days, if the U.S. government continues on its current path of spending trillions of dollars it doesn’t have, the half-life of the value of a dollar may soon be measured in hours.
Want to buy a loaf of bread at the store? Bring a bucket load of cash, because by the time you get there to buy it, the price may have doubled yet again, Zimbabwe-style. Such absurdities are now headed our way, and they will arrive sooner that you’ve been led to believe.
The downward spiral of the debt addiction
That’s because in order to avoid a government shutdown, the U.S. government has recently decided to go bankrupt instead. Already drunk from the freewheeling spending of other people’s money, the feds have now resorting to the intravenous mainlining of new debt just to take another “hit” that will get them by for another week or two.
To call the U.S. political leaders “debt junkies” is an insult to heroin addicts. After all, heroin addicts mostly destroy only themselves and their loved ones, not entire nations. But Washington’s new policies — endorsed by both the Democrats and the Republicans — are based on the street drug equivalent of snorting five lines of cocaine while mainlining heroin while riding a double hit of meth chased down with the desperate chugging of unfiltered Russian vodka smuggled into the country in used gasoline cans.
Like a drug addict passed out face-down on the sidewalk in a pool of his own vomit, wearing nothing but a ragged pair of underwear soaked with his own urine, the United States federal governmentis now beyond the window of opportunity for rational intervention. It is now a basket case of “schizonomics” where key economic decisions are made by leaders who, instead of following the laws of economics, follow the persistent voices in their own heads. And those voices keep repeating the same disturbing mantra: Spend! Spend! SPEND!
There is no medication strong enough to quell this chorus of fi scal insanity, either, because these voices are not based in reality but rather a kind of economic mental illness that has infected the minds of nearly every lawmaker in America today. Strangely, the CDC offers no statistics on this unsightly epidemic, perhaps because the White House has named this insidious disease “Economic Policy.”
IMF declares USA is headed straight into a dead end
As if to underscore the chilling degree of derangement in Washington D.C., the IMF has issued one of the strongest statements yet about U.S. debt spending, declaring that the USA lacked a “credible strategy” to stabilize its debt (http://www.ft.com/cms/s/0/dc1aadea-…). Furthermore, it warns that runaway debt spending from Washington threatens to cause a global financial crisis.
So far, all we’ve seen from Washington is financial sleight of hand and trickery.
Most of the recent $38.5 billion in cuts — which were already puny compared to the total debt spending — were achieved by using accounting tricks and claiming to have cut programs that were already slated to be cut anyway (http://apnews.myway.com/article/201…).
Even then, Democrats screamed as if they were having their fingernails plucked out. If they can’t stomach a miniscule $38.5 billion in cuts, how on Earth are they going to fi nd a way to stomach the trillions of dollars in spending cuts that must be made to keep the government solvent?
Huge 15.7 percent increase in budget deficit in just one year
Almost as if to underscore the insanity of the situation, recently-released fi gures from the U.S. Treasury reveal that the budget defi cit has shot up 15.7 percent in just one year. The deficit for just the October-March period (half a year) was $829 billion. (http://finance.ninemsn.com.au/newsb…)
What we’re seeing here is the U.S. government burning through nearly a trillion dollars in new debt every six months. This is beyond the bounds of everyday, crazydude-on-the-street insanity. It is very rapidly approaching a level of economic terrorism on the part of our national leaders. To continue to drive America’s fi nances into such unbearable depths of debt is very nearly an act of economic warfare against America — a “fi nancial dirty bomb,” if you will. A bomb that, when it goes off, will sadly injure America’s economy in a way that will absolutely dwarf the economic fallout of 9/11.
