Greenspan: U.S. May Soon Reach Borrowing Limit

“The United States, and most of the rest of the developed world, is in need of a tectonic shift in fiscal policy. Incremental change will not be adequate.”

-Alan Greenspan, criminal head of the US Federal Reserve private banking cartel from 1984 to 2006

Thanks for the heads up douchebag.

Of course, you saw fit to do nothing to prevent this coming catastrophe during your reign of terror, nor did you foresee the collapsing markets, and then you told the government to hand all of our loot over to the private banks to save us from economic doom, which is now certain to happen anyways.

Good job.

You should get 10 gold stars.

Bloomberg reports:

Former Federal Reserve Chairman Alan Greesaid the U.S. may soon face higher borrowing costs on its swelling debt and called for a “tectonic shift” in fiscal policy to contain borrowing.

“Perceptions of a large U.S. borrowing capacity are misleading,” and current long-term bond yields are masking America’s debt challenge, Greenspan wrote in an opinion piece posted on the Wall Street Journal’s website. “Long-term rate increases can emerge with unexpected suddenness,” such as the 4 percentage point surge over four months in 1979-80, he said.

“The federal government is currently saddled with commitments for the next three decades that it will be unable to meet in real terms,” Greenspan said. The “very severity of the pending crisis and growing analogies to Greece set the stage for a serious response.”

For those of you who still don’t get it – we are screwed.

We are bankrupt.

We are broke.

Finished, fineto, done, game over, toast, good bye c u later.

If you sum the total outstanding debt, including unfunded liabilities, each American household RIGHT NOW owes over 1 million dollars.

We are in the age of the negative millionaire.

So keep on calling for more government you criminals, we might as well finish off the job right and devolve into the Marxist utopia of starvation and blight you so desire.  It will be good for us as a nation to live through the tyranny the former Soviet Union endured.  It may prevent such a catastrophe in the future.