ALL THE MONEY IS GONE

It is now official. A new federal fiscal year begins October 1 and before the end of that month, America will be out of money. This is not the rant of some anti-Obama, Tea Party radical but rather the actual prognostication of Obama's own US Treasury Secretary Timothy Geithner in a letter he had delivered to US Senator Harry Reid on this past Friday. Geithner expressed to the Senator that it was most important for Congress to raise the level of indebtedness that the United States can incur to an amount greater than the current ceiling of $12.1 trillion. That is $12,100,000,000,000.00. All that money is gone and Geither stated that an increase in the authorized debt was needed so that investors in America including foreign nations "can remain confident that the United States will always meet its obligations". Too late. The IMF already expressed that concern in June and received an advance of $5,000,000,000.00 on the total pledge amount made by America.

Geithner is not a political novice and he anticipated an outcry of opposition from the GOP and Blue Dog Democrats to his request, the amount of which has not been disclosed. Very correctly he opined that "both parties have long recognized the need to keep politics away from this issue". However, he has intentionally misstated the point. This is not a question of politics but rather a question of fundamental political and economic theory. America is a capitalist nation and has never been a country that promoted or practiced the idea of socialism. All the efforts of the Obama Administration, and that would include the massive amounts of deficit spending, are directed at pushing our nation into the ranks of the world's socialist nations. Politics, as it was not applied to the multiple times in the past that this debt ceiling was raised by Congress, has never included the notion of funding a switch from capitalism to socialism.

This huge financial chaos into which Obama has placed our nation has to come to an end. Such a termination can be gained by stopping the ever growing out-flow of American dollars since this out-flow is substantially funded by borrowing money from foreign nations, particularly Communist China. If the debt ceiling is maintained a partial success is immediately gained.

By the way, Obama is currently at a conference in Mexico which is scheduled to address issues of concern to America, Canada and Mexico. One of these issues is the Obama promise to expedite the funding of a Mexican government plan to fight crime and its illegal drug industry. The cost to America - $1,400,000,000.00. Will it never end?