Socialism is the lord of envious people

A Market Watch article published in February 2004 contained this quote by David Walker, comptroller general of the U. S., who wrote in a New York Times editorial that, “The federal debt, plus the gap between the government, Social Security and Medicare commitments and money set aside to pay for them, exceeds $400,000 per family of four.” Today, eight years later, our government cannot agree among themselves what we owe in total, let alone per family. All agree, however, it is at least $800,000 per family — and climbing. That is inexcusable.

A June 2009 Market Watch article indicated, “The continuation and increased philosophy of government spending and money manufacturing to solve a problem created thereby is unprecedented in economic history. The end game of this is unknown but cannot be positive because it's all built upon debt.” We are beginning to now see the endgame results.

The volume of total debt in free world economies is $195 trillion. The total value of assets in those economies is $150 trillion, so the entire free world economy is upside-down. Had all of this debt been accumulated to build infrastructure, new manufacturing sites and research and development, the world economy would be booming. Unfortunately, a great amount of this debt has been driven by governments and used for war and the redistribution of wealth to satisfy socialistic programs. As always, when governments control economies, debts become outsized and economies suffer. Why? It's simple: Money borrowed by the government to give to welfare recipients is not a productive use of capital because it is invested in nothing. Money borrowed and invested in industrial production, business buildings, cars and equipment produce a return on investment, which government indebtedness cannot provide. Eventually, government borrowing overwhelms an economy because interest payments must be paid annually, and there is never a plan to pay back debt. Debt grows until government must borrow money just to pay interest on the debt. This is our present situation, and our government is bankrupt. For the last several years, the Fed/federal government has borrowed all of the savings in our economy. That was insufficient, so they simply printed the several trillion dollars not available to pay the rest of the bills. This is the sole reason for inflation in the U.S.