The next issue for concern in the battered economy is whether there are going to be buyers for the nation’s billions in debt, Mayor Bloomberg said yesterday.
Speaking to students at Georgetown University, Bloomberg pointed out that Wall Street convulsions are being felt around the globe.
US Debt is in essence the enslavement of the American people. T-bills are promises to tax the American people down the road and turn that money over to the holders of that T-bill.
But setting aside that maybe We The People are sick and tired of working hard to make rich people richer, we have reached the point where the government debt load is simply too great a burden. WEe are past a question of whether we want to pay those debts or not and into the realm of simply being unable to do so, especially since our own government gave corporations tax breaks to offshore high paying jobs! and the buyers of US debt know all of this.