The lesson we must learn from this crisis is that you can not manipulate reality, whether you are an 'intentions are good' liberal or a 'greed is good' Wall Street executive. The reality is not everyone can afford a home and and you can't make 100% profits on mortgages that pays 6%, no matter how many traunches you slice them in.
In the long run, there is no free money. For the last 50 years, Americans have been told they can have everything they want, without the sacrifice required to achieve it. We are told we can have lower taxes and more government spending programs.
But those days are over. And that is the silver lining.
Unfortunately, the silver lining is surrounded by extraordinary toxic doomsday scenarios. It is called the federal debt, federal deficits and the burgeoning cost of the promises our politicians have made for the last half century. Our falsely held belief in the American Dream, defined as the ability to remove fiscal sanity and long term responsibility in exchange for short term rewards and Federal Government largesse, is about to end.
It is not something I want to go into in much detail, as I can not do justice to the severity of the problem. The only thing I can do is link to The Financial Report of the United States Government. I propose that every politician that runs for office, must have read this document, been tested on their knowledge of this paper, and the results of those tests should be published in every newspaper and broadcast on every television and radio station in America. Further, I believe that before any person should be allowed to vote, they should read this document, in English just for spite, and be tested on their knowledge of this document, and proven a general understanding of the financial condition of America.
And before any group dare ask for money from the government, I would challenge them how we are planning on paying for the $59 trillion of unfunded liabilities our government is facing.
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