Palin compares the national debt to slavery. “Our free stuff today is being paid for by taking money from our children and borrowing from China,” she said in Iowa on Saturday. “When that money comes due… it’ll be like slavery when that note is due. We are going to beholden to the foreign master.”
For the libs at Salon, the online magazine that has squandered $83.6 million since its inception, Palin’s comment about servitude harks back to the Old South, plantations, whip crackers and slavery.
“Once again, Sarah Palin appears confused about United States history. In a speech at the Iowa Faith & Freedom Coalition’s fall fundraiser over the weekend, the former Alaska governor and Republican vice presidential candidate likened the federal debt to slavery,” Jenny Kutner leads off.
Democrats invariably liken any criticism of Obama, Democrats in Congress, socialism and the policies of the federal government to racism. It’s really the only weapon they have when faced with reality.
“Ultimately, debt is slavery,” Ron Paul wrote back in 2004. “Every dollar the federal government borrows makes us less secure as a nation, by making America beholden to interests outside our borders. So when you hear a politician saying America will do whatever it takes to fight terrorism or rebuild Iraq or end poverty or provide health care for all, what they really mean is they are willing to sink America even deeper into debt.”
But then Salon thinks Ron Paul is a racist. It’s the only ammo they have against him. He’s a racist so his economic critique should be dismissed out of hand.
It is not clear how those who defend socking their grand children into debt can simply dismiss this immense problem. If we take the art of statistics away from the government and the banksters at the Federal Reserve and the Treasury, we discover that the national debt is around 17 trillion dollars. Unless this astronomical debt is excused, it will have to be paid back.
Earlier this year, San Diego economics professor James Hamilton said he “believes the government is miscalculating what it owes by leaving out certain unfunded liabilities that include government loan guarantees, deposit insurance, and actions taken by the Federal Reserve as well as the cost of other government trust funds,” Fox News reported in August. He pegged the national debt close to $70 trillion.
Put aside the debt slavery that will be imposed on future generations. Our problems are more immediate. But you don’t hear the liberals at Salon talking about it. Most of them believe we are on the road to recovery.
“The earthquake will come via a collapse in the market for U.S. government bonds as domestic and foreign investors realize that the only way Uncle Sam can meet his future spending obligations is to print massive quantities of money,” Boston economists Laurence Kotlikoff and Scott Burns warned in 2008. “The result will be sky-high inflation and interest rates and, most surely, a prolonged reduction in output and employment. This could happen today. It could happen tomorrow. But it will happen here just as it has happened in every other country that tried to spend far beyond its ability to pay.”