So what happens when the US declares bankruptcy?

[Deja Q]

I mean, this spending is a bad thing. But there's going to be a breaking point. A breaking point made nearer thanks to tax cuts we can't even begin to afford.

When do we pay for the actions of the negligent, thrusted into office by a bunch of antideluvian partisan cretins, and his predecessors, namely Poppy and Ronald McReagan?

For a 'superpower', the US is in very bad shape right now. But I digress. Are we headed to disaster sooner than we think?

[soothsayer]

1. did ya hear the dummy (*) blaming congress

for overspending?

what an ass!

also said he has a 5 year plan to cut the deficit in half.

riiiiiiiight.....

[Deja Q]

8. That's like the cat blaming the mouse for being tasty!

It's the cat that decides what is tasty and then does what he wants to indulge that taste...

Meaning Bush has given all the mandates and signatures and asking for money to spend. HE is guilty of the spending, though (the repuke-controlled) congress is guilty as well.

So far he's engaged his 4 year plan to give consecutive gigantic tax cuts for the rich while supporting the rich moving jobs and their companies offseas to avoid taxes and to give themselves bigger profits. How's that going to tally with cutting the monsterous deficit he's caused, apart from killing social programs?

The guy* is a fucking incompetent moron.

[HereSince1628]

2. No problem...we''' literally print mo money

hey this is a global economy, and currency fluctuations are all part of the BIG picture.

[JailBush]

3. Business as usual.

The Upper Crust will celebrate in Bermuda or the Caribbean, while the sheeple say "whatever," blame it on Monica Lewinsky or whatever.

[arewethereyet]

4. Kucinich can probably fill you in

been there, done that...

[DoYouEverWonder]

5. I lived in NYC when they went bankrupt

and for a few weeks things really sucked. I was in college at the time and they shut us down a week before final exams.

[ozone_man]

6. Failure by 2010 IMO.

I think as the debt balloons, the interest rates must go up to keep foreign countries from dumping our bonds. This makes us pay huge interest, limiting what we can invest in like jobs, infrastructure, etc. Even Alan Greenspan ackowledges the danger in mounting debt. Bush is looking as far as election 2004, but no further. A quick pump and dump for the economy.

[karlschneider]

7. Living Americans have all been taught that our democratic republic will

survive, well, 'forever'. Not that I have any firsthand knowledge of the opinions of previous civilizations, it sure seems to me that the denizens of those probably thought the same thing about theirs.

What ought to be abundantly clear is this - nothing is forever. Not even the universe as we perceive it. Whatever little bit of honest history we can discern shows that every societal system eventually collapses and morphs into something very different.

Nowadays, the changes are, for various reasons, faster (via technology), more strident (via technology) and more violent (cf.)

(btw, the word is antedeluvian) ;-)

[Deja Q]

10. Agreed

Okay, I did spell it wrong. But that's not only why I'm agreeing. :-)

If Tommy Franks has his way in eliminating the constitution, this proves how dire the system is. But by then there are no freedoms. Nothing of honor left to protect, and don't tell me corporate america is honorable.

If these are indeed the end times...

[karlschneider]

12. I'm rapidly approaching "old phart" status, been wrong many times,

and also HOPED I was wrong many times. So far, it's pretty much a wash, and I really do hope I'm wrong in this case. But I'm beginning to think the anthropologists got the name wrong - that "homo non compos mentis" would have been more appropriate.
:-(

[ComerPerro]

9. The rethugs will do what they always do

They will at the same time spend and decrease revenues by cutting taxes and giving out massive rebates to corporate CEOs and the extremely wealthy. And, just like our corporations, the wealthy will flee offshore when everything goes to shit, and give themselves a well earned congratulatory pat on the back for rising up and answering to their greedy nature when the moment presented itself.

I swear to God, these fucking assholes haven't done a God damned thing to earn their wealth, and would probably die of poverty under a truly "free enterprise" system. They will take their jingoism and calss warfare and fucking destroy this nation. In fact, they are doing it now.

Anyway, back to my point. They will spend and spend, slash everything and eventually eliminate the income tax in favor of much more regressive taxation. One movement that is out there already is a petition to abolish the income tax and replace it with a national sales tax of around twenty percent. With all of this welfare for corporations and the wealthy, added to unprecedented defense spending, the nation will be on the verge of bankruptcy in no time.

This is where they pull out the time-tested method of blaming deficits on social programs such as public schools, and liberals will be blamed and demonized (worse that just the "unAmerican" bullshit that is going around now).

And finally, as we as a nation finally make the transition back to feudalism, the nobles will all gather and celebrate their success and "hard work" as everyone else is left in a life of servatude.

[Deja Q]

11. Legal slavery

If you're right... :scared:

On the plus side, life isn't forever. We'd have to live through such hell for a short period before dying.