Virtually every year for the last 40 years, we understated the yearly deficit and understated the total federal debt.*
by Frosty Wooldridge
Last month, I listened to former Colorado Governor Lamm speak in Washington, DC. He headed the Federation for American Immigration Reform Conference: (www.fairus.org)
His national leadership in the immigration debate illustrates his far-reaching understanding of our greatest dilemma in the early years of the 21st century. Every social ill emanates from too many people flooding into the United States beyond our capacity to sustain them or ourselves.
Few Americans understand the Faustian dilemma awaiting their children with the federal deficit now at $8.7 trillion. Mr. Bush raised the federal debt level to nearly $10 trillion. On an individual level, if you earned $50,000.00 a year, but ran up your credit card debt to $500,000.00 a year, how would you pay for your financial liability? Answer: you couldn’t.
Bankruptcy becomes your only option. However, what happens when an entire country bankrupts?
The dollar’s value falls world wide. Our annual trade deficit exceeds $700 billion. Our manufacturing base vanishes with millions of U.S. jobs outsourcing overseas. Our government must borrow $2 billion daily to keep our economy afloat. Unbeknownst to most Americans, their tax dollars pay in excess of $400 million daily to pay the interest on the federal debt.
Governor Lamm said, “I have participated in the greatest embezzlement in all of history. In my seventy plus years, I have never seen such a perfect crime.”
* While Governor Lamm is speaking allegorically, the fact remains he was directly involved in ‘scamming’ the majority population of European Americans throughout his political career–and we wish to thank him for his admission of guilt.