Our government is utterly broke. There are signs everywhere one looks. Social Security can no longer afford to send us our annual benefit statements. The House can no longer afford its congressional pages. ThePentagon can no longer afford the pension and health care benefits of retired service members.NASA is no longer planning a manned mission to Mars.
We're broke for a reason. We've spent six decades accumulating a huge official debt (U.S. Treasury bills and bonds)and vastly larger unofficial debts to pay for Social Security, Medicare, and Medicaid benefits to today's and tomorrow's 100 million-plus retirees.
The government's total indebtedness -- its fiscal gap -- now stands at$211 trillion, by my arithmetic. The fiscal gap is the difference, measured in present value, between all projected future spending obligations -- including our huge defense expenditures and massive entitlementprograms, as well as making interest and principal payments on the official debt -- and all projected future taxes.
The data underlying this figure come straight from the horse's mouth -- the Congressional Budget Office.

Alternative FiscalScenario presents nothing less than a Greek tragedy. It's actually worse than the Greek tragedy now playing in Athens. Our fiscal gap is 14 times ourGDP. Greece's fiscal gap is 12 times its GDP, according to Professor Bernd Raffelhüschen of the University of Freiburg.
In other words, the U.S. is in worse long-term fiscal shape than Greece. The financial sharks are circling Greece because Greece is small and defenseless, but they'll soon be swimming our way.
To grasp the magnitude of our nation's insolvency, consider what tax hikes or spending cuts are needed to eliminate our fiscal gap. The answer is an immediate and permanent 64% increasein all federal revenues oran immediate and permanent 40% cut in all federal noninterest spending.
Such adjustments go miles beyond anything Congress and the president are considering. No wonder. They are focused on limiting growth in the official debt, while ignoring what's happening to the unofficial debt.
The great truth facing the U.S. is not that we lack solutions to our problems but that our political system seems unable to do anything. With a deficit as large as the one we face, it should be clear that we cannot sort things out through either spending cuts alone or tax increases alone. (Spending on Social Security, Medicare and Medicaid is set to rise from 10% of GDP now to15% by 2030. That is simply unsustainable.) And yet the two parties seem stuck in adolescentfantasies, one ruling out tax increases, the other ruling out any serious cuts in entitlement spending. Sure, in a country of 312 million, people will disagree. Buton the deficit, the disagreement is not a theological one. Debates over money are always amenable to compromise. You can split the difference!
The world has not lost faith in the U.S. economy. People lend America money more cheaply than they do anyother country. Our stock markets remain strong. Our companies continue to thrive. But as you watch the dangerous game of chicken in Washington, it is easy to conclude that the U.S. has lost a serious governing class and has become a place where ideology and talk-radio rhetoric have replaced the business of governance..

Goldman Sachs helped Greece to get to the state it is in today...

actually it was her crooked Politicians that dood it!
Besides,no Country can live from Tourism alone,not theses days!

Greece to Receive $54 Billion Bailout from U.S. Taxpayers


The EU (European Union) and the IMF (International Monetary Fund) are bailing Greece out of the problem it got into as a result of socialist policies and unchecked government growth. Greece has been living far beyond it’s means for many years and now it’s time to pay the piper — except it’s not the Greeks who seem to be paying.

The IMF is funding about a third of the $952 Billion bailout. The U.S. is providing approximately 17% of the IMF bailout funds. This is approximately $54 Billion USD.

This is such a politically toxic decision that the IMF may engage in a type of childish shell game where dollars are drawn from other sources to bail out Greece and then dollars from the U.S. taxpayers are used to replenish those sources. This will prevent funds moving from the U.S. directly to Greece.

Greece is a sad tale of government gone wrong. The World Bank ranks Greece 16th (out of 16) Eurozone nations in terms of fighting government corruption. Transparency International ranks it 27th (out of 27) in terms of governmental corruption.

The Greeks were simply voting themselves money that their nation didn’t have. This brings to mind the hockey-stick like growth of the Federal budget under Barack Obama and it does not make good predictions for the future of the United States. Who will bail out the U.S. when we fail?


http://www.fortliberty.org/greece-to-receive-54-billion-bailout-from-u-s-taxpayers.html

Get into Euros.....NOW

Warren Buffet is leading the way....

Yay,Hurray for the world's #1 Fiat-Currency!

Get into Euros.....NOW

Warren Buffet is leading the way....

George Soros in Second Place

With Jim Rodgers a close Third...

Euro Euro Euro

Soros: Angela Merkel was the creator of the European crisis.
George Soros explains toReuters' Chrystia Freeland how German Chancellor Angela Merkel's actions in 2008 could lead to the disintegration of the European Union. Consequently, a disorderly default of European sovereignties may lead to a global financial meltdown worse than 2008. He explains his analysis here.
http://in.reuters.com/video/2011/11/04/soros-angela-merkel-was-the-creator-of-t?&videoId=224281604
George Soros At Davos : Germany Relegating Weaker Euro Nations ...
http://www.huffingtonpost.com/blackberry/p.html?id=1230827