"We can't spend more than we have. ... This is no longer a matter of right versus left, liberal versus conservative, we can prove our conclusion on this by basic mathematics. The United States Federal Government from all sources, for all purposes, takes in $2.2 trillion a year. Keep that number in mind. $2.2 trillion a year. We have total unfunded liabilities of $65 trillion, $2.2 trillion in revenue, $65 trillion in total unfunded liabilities. That is more than 30 to 1 leverage. If the United States Federal Government were a bank regulated by itself, they would shut themselves down. We live in a nation where not long ago our United States Secretary of State [Hillary Clinton] was on rhetorical bended knee in communist China pleading with the Chinese to continue to buy our debt, because if they don’t buy our debt and other foreign sovereign wealth funds don’t buy our debt our beloved United States of America can’t pay its bills. The United States of America my friends is not a beggar nation." |
