Stunning essay by Pat Buchanan on WorldNet Daily today entitled, “Is America’s financial collapse inevitable?”
But if taxes are off the table, Afghan war costs are inexorably rising and cuts in Social Security, Medicare, Medicaid and entitlement programs are politically impossible, as pressure builds for a second stimulus, how does one reduce a deficit of $1.4 trillion?
How does one stop the exploding national debt from surging above 100 percent of GDP?
America is the oldest and greatest constitutional republic, the model for all the others. But if our elected politicians are incapable of imposing the sacrifices needed to pull the nation back from the brink of a devaluation or default, is democratic capitalism truly, as Francis Fukuyama told us just two decades ago, the future of mankind?
What the looming fiscal crisis of this country portends is nothing less than a test of whether this democratic republic is sustainable.
Buchanan paints a devastatingly bleak outcome for these United States which makes me wonder if it does indeed happen, won’t those in control ultimately get to rebuild the Constitutional Republic or Socialist State as they deem fit?
Call me a natural born pessimist but I cannot see any light at the end of this economic tunnel other than November 4th, 2010.






