Who’s Afraid of Big Bad Debt?

America Commits Economic Suicide

1. Lech Walesa, former President of Poland, “America is Moving Toward Socialism”
2. Welfare rolls up in '09; more enroll in assistance programs
3. The FDIC clocks 15 bank failures so far in 2010 ,and expects 2010 to be a peak for bank failures as a result of the financial crisis. Last year, 140 banks failed, compared to 25 in 2008 and three in 2007.
4. Deficit of Trust: Most Voters Don’t Believe President’s Assertions About Economy
5. Bailout cop: TARP's not working
6. Deficit to Hit All-Time High
7. Unemployment taxes may double or even triple in 2010
8. Case-Shiller Index points to a double dip for home prices
9. Extended Unemployment Insurance Benefits:
10. Business warns regulation may crimp recovery

Debt and interest paid on USA debt will kill any chance of an Economic Recovery

Words of Wisdom about Debt

“We don't have a trillion-dollar debt because we haven't taxed enough; we have a trillion-dollar debt because we spend too much"
-Ronald Regan

Rather go to bed supperless, than rise in debt.”
-Benjamin Franklin

We can anticipate:

• Creeping Inflation in Food Prices
• Higher Taxes
• Higher percentages of Unemployed
• More Housing Foreclosures
• Corporations Creating Jobs Overseas