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Biden States United States Needs To Spend Money to Keep From Going Bankrupt

Politics / US Debt Jul 17, 2009 - 01:54 AM GMT

By: Mike_Shedlock

Politics

Best Financial Markets Analysis ArticleInquiring minds are flabbergasted over the latest comments from Vice President Joe Biden: ‘We Have to Go Spend Money to Keep From Going Bankrupt’


Vice President Joe Biden told people attending an AARP town hall meeting that unless the Democrat-supported health care plan becomes law the nation will go bankrupt and that the only way to avoid that fate is for the government to spend more money.

“And folks look, AARP knows and the people with me here today know, the president knows, and I know, that the status quo is simply not acceptable,” Biden said at the event on Thursday in Alexandria, Va. “It’s totally unacceptable. And it’s completely unsustainable. Even if we wanted to keep it the way we have it now. It can’t do it financially.”

“We’re going to go bankrupt as a nation,” Biden said.

“Now, people when I say that look at me and say, ‘What are you talking about, Joe? You’re telling me we have to go spend money to keep from going bankrupt?’” Biden said. “The answer is yes, that's what I’m telling you.”

This is reminiscent of the My Lai massacre and the destruction of various Vietnamese villages in the Vietnam War.

An American major after the destruction of the Vietnamese Village Ben Tre: "It became necessary to destroy the village in order to save it."

On March 16, 1968, a company of U.S. soldiers went into the village of My Lai 4, in Vietnam. A soldier later testified, "The order we were given was to kill and destroy everything that was in the village. It was clearly explained that there were to be no prisoners."

"We met no resistance and I only saw three captured weapons. We had no casualties. It was just like any other Vietnamese village-old papa-sans, women and kids," a soldier said describing what they found on entering My Lai. "As a matter of fact, I don't remember seeing one military-age male in the entire place, dead or alive."

The U.S. soldiers started killing everyone in sight. A U.S. soldier later testified:

"There was an old lady in a bed and I believe there was a priest in white praying over her... [U.S. Lt.] Calley pulled the old man outside. He said a few more words to the monk. It looked like the monk was pleading for his life. Lt. Calley then took his rifle and pushed the monk into a rice paddy and shot him point-blank."

Lt. Calley was the only soldier convicted of any of the atrocities that took place at My Lai. Despite being convicted of killing over 100 unarmed Vietnamese, Calley served only two days in jail! Nixon then ordered him put under house arrest at Fort Benning, where he could live in a nice apartment, cook his own food, receive guests, watch TV and go to town for supplies (accompanied by MPs). Calley was released from house arrest in just over three years and was able to make large amounts of money speaking to right-wing groups.

Biden's comments are also right up there with President Bush who abandoned free-market principles to save the economy. Please consider Bush says sacrificed free-market principles to save economy.

US President George W. Bush said in an interview Tuesday he was forced to sacrifice free market principles to save the economy from "collapse."

"I've abandoned free-market principles to save the free-market system," Bush told CNN television, saying he had made the decision "to make sure the economy doesn't collapse."

"I am sorry we're having to do it," Bush said.

Here is an audio clip of Biden.

Top Three Orwellian Comments Of All Times

  • An American major after the destruction of the Vietnamese Village Ben Tre: "It became necessary to destroy the village in order to save it."
  • Vice President Joe Biden: "We Have to Go Spend Money to Keep From Going Bankrupt."
  • President George W. Bush: "I've abandoned free-market principles to save the free-market system."

This sadly is what has become of our great nation.

By Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Click Here To Scroll Thru My Recent Post List

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management . Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

Visit Sitka Pacific's Account Management Page to learn more about wealth management and capital preservation strategies of Sitka Pacific.

I do weekly podcasts every Thursday on HoweStreet and a brief 7 minute segment on Saturday on CKNW AM 980 in Vancouver.

When not writing about stocks or the economy I spends a great deal of time on photography and in the garden. I have over 80 magazine and book cover credits. Some of my Wisconsin and gardening images can be seen at MichaelShedlock.com .

© 2009 Mike Shedlock, All Rights Reserved

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© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

dash
17 Jul 09, 11:13
Good article, Mish

This was a good article. I stopped following your articles regularly since you got on your "it's deflation, not inflation!" kick. But this article was worth reading.


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