US Economy 101: Stealing from Social Security to Pay for Wars and Bailouts

US Economy 101: Stealing from Social Security to Pay for Wars and Bailouts

VDARE.COM – http://vdare.com/roberts/110309_social_security.ht…

March 09, 2011

By Paul Craig Roberts

The American Empire is failing. A number of its puppet rulers are
being overthrown by popular protests, and the almighty dollar will not
even buy one Swiss franc, one Canadian dollar, or one Australian dollar.
Despite the sovereign debt problem that threatens EU members Greece,
Ireland, Spain, and Portugal, it requires $1.38 dollars to buy one euro,
a new currency that was issued at parity with the US dollar.

The US dollar’s value is likely to fall further in terms of other
currencies, because nothing is being done about the US budget and trade
deficits. Obama’s budget, if passed, doesn’t reduce the deficit over the
next ten years by enough to cover the projected deficit in the FY 2012
budget.

Indeed, the deficits are likely to be substantially larger than
forecast. The military/security complex, about which President
Eisenhower warned Americans a half century ago, is more powerful than
ever and shows no inclination to halt the wars for US hegemony.

The cost of these wars is enormous. The US media, being good
serva… >>>

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