Saturday, November 29, 2003
Subject: Fiscal Bizarro World: Once the leaders of the current administration are deposed, they will leave behind a fiscal catastrophe. This is being done intentionally at the Federal level in an effort to wreck social services here, so that congress will have to be "fiscally responsible" and cut wildly successful and important programs. California faces similar problems after being robbed by friends of the Bushes who remain free. What will the result of all this be? What happens when you've mortgaged the whole country? This is essentially what happened in Argentina. Every year, over 85% of Argentina's economic output goes to debt service. Can you imagine what that's like? According to the CIA world factbook, things haven't improved much there since 1999, when the World Bank repossesed the country. This past year for example, their GDP shrank by 14%. This was once the richest country in South America. Could it happen here? It's already happening here. Mathew
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