US heading for bankruptcy?
Original post made by Jag Singh, Duveneck/St. Francis, on Mar 12, 2007
Walker is now on a cross country 'fiscal wakeup' crusade hoping to stir up the citizenry to pressure politicians to take remedial action to save our ship of state from bankruptcy. He warns of a lack of leadership and truth telling intended to lull our people into a deep slumber and continued delusion of our financial well-being. But, a far greater threat than the obscene Defense budget and our penchant for waging wars, is the massive entitlement programs which if left unchecked will most surely cripple us financially. The economic reality is fast approaching when the baby boomers generation will be jumping on the entitlement bandwagon in January 2008. Three years later, these new retirees will be entitled to Medicare coverage further draining the dwindling resources of the US treasury.