Regardless of the political spin this is a bailout. If this action is allowed to move forward this will be just the beginning – bailouts for states are next?
“Rep. Paul Ryan (R-WI) wants Congress to pass a law that would cause Puerto Rico bondholders who own $73 billion in notes from the territory’s government to be treated the same way the federal government treated Chrysler bondholders back in 2008 and 2009.” click here
“In other words, the first spending blueprint passed with Republicans — led by Ryan — in complete control of Congress actually increased the deficit more than Democrat spending plans.” click here
According to the Congressional Budget Office (CBO), a large federal debt could lead to a fiscal crisis where investors no longer want to buy the securities the U.S. Treasury sells to finance the debt. Those folks are right on it, focused like a laser….
Click here for CBO report.
“Fully two-thirds of the national debt is owed to the U.S. government, American investors and future retirees, through the Social Security Trust Fund and pension plans for civil service workers and military personnel. China, it turns out, holds less than 8 percent of the money our government has borrowed over the years.”
American investors will be in for a big surprise when the government cannot repay its dept….thus, the government will steal from its own citizens. An the poor will be most hurt. click here for full story….
“SHADOWBOSSES tells a story of intrigue, drama, and corruption and reads like an organized crime novel. But it is actually a true story of how labor unions are infiltrating our government and corrupting our political process. This compelling and insightful book exposes how unions have organized federal, state, and local government employees without their consent, and how government employee unions are now a threat to our workers’ freedoms, our free and fair elections, and even our American way of life. And, Mallory Factor reveals what’s coming next: how unions are targeting millions of Americans–maybe even you–for forced unionization so that unions can collect billions more in forced dues and exert an even greater influence over American politics. A chilling expose, SHADOWBOSSES is also a call to citizen action against those who really hold power in America today.” Source: Barnes and Noble