Tim, the Enchanter

I've been saying similar things for a while now. Of course, people such as Ayn Rand and Ezra Taft Benson have been warning of just such an impending crisis for a while now, but those warnings have gone unheeded. Back when programs such as Medicare and Social Security were implemented, many people believed that they would ruin the country. Just before the health care bill was passed I heard people actually say that there were people who opposed Medicare because it would ruin the country, but that hasn't happened, so neither will the health care bill. But a very large chunk of our debt comes from Medicare and is doing exactly what those against it said it would, and now we are adding to our debt faster then ever while stifling businesses at the same time.

It may have taken 50 years of ignoring those warnings to get to where we are now, but I'm really afraid that I will see a depression greater than the Great Depression in my lifetime. Though, I also don't think it's too late to stop hyper inflation, but the solution is very painful. And the Obama administration seems to think that the best way to deal with this crisis is to ignore it. Scary.

Here's an article that you might be interested in that points out our similarities to Greece.

http://www.americanthinker.com/2010/05/greece_a_preview_of_things_to.html
 

Excellent article, Jake. Thank you very much sharing it.