Trend: The US Government continues to borrow billions every day to finance budget deficits. It can't continue forever.
Robert Kiyosaki shares some troubling observations in his column in Yahoo! Finance.
Source: Five Factors for Favoring Silver: Why the Rich Get Richer - Yahoo! Finance
Just how badly is the U.S. borrowing money? According to the Treasury Department, America's first 42 Presidents (from George Washington to Bill Clinton) borrowed a combined total of $1.01 trillion from 1789 to 2000. Between 2000 and 2005, President George W. Bush has borrowed $1.05 trillion -- and he's got a few more years left to go.
I'm not confident that our political leaders have the guts to do what's required to put the U.S. back on a sound economic footing. This is not to blame either Republicans or Democrats. I blame Americans for wanting their Social Security cake and Medicare ice cream, too. It's the entitlement mentality that grips the U.S., from the President on down, that needs to be changed. Too many Americans have come to expect the government to solve our personal problems.
Mr Kiyosaki, these American that you speak of who want thier Social Security cake and Medicare ice cream have a right to want it. The reason that they have this right is because their hard earned money has been deducted from thier pay checks over the life time of thier employment to put money into these funds. The money has been use for everything other then what it was intended for. Damn right they should have it. If it were not for the contributions of these working American's there would be no Social Security. YES give them what is rightfully thier's.
Posted by: Cleveland McDowney | May 20, 2008 at 03:35 PM