The debt US accumulated by the US government have reached insurmountable proportions.
The loss reflects a continued deterioration in the finances of Social Security and government retirement programs for civil servants and military personnel. The loss — equal to $11,434 per household — is more than Americans paid in income taxes in 2006.
Bottom line: Taxpayers are now on the hook for a record $59.1 trillion in liabilities, a 2.3% increase from 2006. That amount is equal to $516,348 for every U.S. household. By comparison, U.S. households owe an average of $112,043 for mortgages, car loans, credit cards and all other debt combined.
So how does Bush plan to tackle this problem, other than making tax cuts for the rich permanent?
US President George W. Bush said Tuesday he will send a top diplomat to Israel next month to continue negotiations on a new, 10-year military aid deal with the Jewish state.
“I am strongly committed to Israel’s security and viability as a Jewish state, and to the maintenance of its qualitative military edge,” Bush said in a statement after White House talks with Israeli Prime Minister Ehud Olmert.
“During our meeting today, I told prime minister Olmert that I am committed to reaching a new 10-year agreement that will give Israel the increased assistance it requires to meet the new threats and challenges it faces,” he said.
Bush said he will send Under Secretary of State Nicolas Burns, the State Department’s number-three official, and an interagency team to Israel in July “to lead discussions aimed at concluding an agreement soon.”
Notice how Bush seems to think that without there huge sums of aid, Israel’s viability would come into question? He’s clearly an anti-Semite.