How Much More can We put on the National Credit Card?

We have been living on borrowed money. Especially the government. We have gone very deep into debt. The biggest crisis is comittments the Government has made for medicair,madicaid and prescritpion druggs. that alone will eventually bankrupt the nation. But if uncle Sam jumps at each chance to keep any economic pain from being felt it will bring it on sooner. Gary north reffered to this article as proof that the mainstream media eyes are starting to open.

Possible fallout from Fannie, Freddie bailout
Carolyn Said, Chronicle Staff Writer

Tuesday, September 9, 2008

Like profligate cousins you can't bear to see penniless, Fannie Mae and Freddie Mac are getting a bailout from their good old Uncle Sam - the same deep-pocketed fellow who already rode to the rescue of Bear Stearns and depositors at IndyMac.

Now that the government has established a precedent for outright rescues of tottering financial titans, where else might it need to intervene? The potential trouble spots are wide-ranging and, well, troublesome.more...