January 29, 2006

United States Bankrupt
Our finances are a disaster at all levels: Federal government, automobile manufacturers, other heavy industry and family as well. The federal government is carrying the biggest debt load in history, and no one seems to notice. General motors and Ford are going under. Many families have staggering credit card debt in addition to a second mortgage on their homes. However, I describe only the visible portion of the mammoth financial iceberg that threatens to freeze our economy and paralyze the nation.

I have a series of questions about all sectors of the economy, and I wish I could assemble a group of experts on both sides of the fence that divides our country into conservative and liberal camps, and force them to work together to compose answers to my questions that might be put into actual practice in order to save us from disaster.

The List

1. How can we wage a war with proper (in house) finances that do not contribute to the Federal governments mounting mountain of debt? See the following.
a. U.S. National Debt Clock
b. Investopedia
c. A Pedestrian’s Guide to the Economy

2. Mr. Bush has cut Federal taxes at the same time that the Federal government spends more money than it takes in. In order to try to slow the Federal deficit, he must cut spending in programs that directly effect the middle class: Social Security, Medicare, education. What other methods might he use to stimulate the economy instead? The amazing thing is that a Google search provided very little current criticism of the current deficit and few ideas as to how to curtail it. Check the following.

3. Why are the nation’s major auto manufacturers in such dire financial circumstances?
a. Are the CEO’s of Ford and General Motors at fault?
b. Are the nation’s tariff practices at fault?
c. Are America’s workers at fault?

See the following.
a. General Motors
b. Turnaround Management Association
c. Natural Resources Defense Council

4. How can we save the nation’s auto manufacturers?
5. What makes it practical for companies to out-source jobs? How do we stop this practice?
6. Who is at fault for the nations escalating credit card debt: the consumer, or credit card companies? How do we help the consumer get out from under his/her mounting credit card debt? How do we prevent the issue of credit cards to those who can least afford them?

Of course, I haven’t written any questions that address the underlying philosophical issues, because those are best addressed once national finances are in order. However, I can say that a large part of the problem is due to personal irresponsibility at all levels. Federal government, the President, Congress, and Senate must shoulder responsibility for inappropriate response to the rising national debt, and inappropriate international monetary and economic agreements and policies. The CEO’s of the nations corporations are responsible for taking larger and larger compensation for less and less active and accountable corporate leadership. Stockholders are responsible because they do not demand that CEO’s and corporate boards be answerable for inappropriate and insufficient leadership. Additionally, the average American family is responsible for it’s share in profligate spending.

I promise to add more links as I have time to research them.

Please E-mail me at
with comments.
(Note the new address. I am no longer at AOL.)
. I have removed Comments because unscrupulous persons were using that part of the “blog” to advertise their products and services. If you have legitimate comments, I hope you will communicate these directly to me.


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