Found this great post on the Net. Watch out America! ..................... Anyone aware of the US Government's real financial situation knows that time is running out. The Government has $15.5 trillion in admitted debts but those debts, when calculated under Generally Accepted Accounting Principles (GAAP), or 'honest accounting', is over $70 trillion. $70 trillion divided by 300 million+ Americans works out to $233,000 per person in US Federal Government debt and obligations. Or nearly $1 million per family of four.
"A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years."
This is one good reason why the founding fathers were for a Republic (and against a central bank - damn Alexander Hamilton).
Answer by -Eilish- at 1:33 PM on May. 28, 2011
Answer by itsmesteph11 at 5:42 PM on May. 28, 2011
Answer by miss_lisa at 5:44 PM on May. 28, 2011
Answer by janet116 at 8:20 PM on May. 28, 2011
Answer by FroggyFeet at 12:54 AM on May. 29, 2011
Answer by MLM247 at 6:46 PM on May. 29, 2011
Answer by -Eilish- at 7:48 PM on May. 29, 2011
Answer by -Eilish- at 7:50 PM on May. 29, 2011
Answer by Carpy at 9:21 PM on May. 29, 2011
Answer by -Eilish- at 10:25 AM on May. 30, 2011
Next question overall
My daughter says she wants to be a doctor when she grows up!