The Federal Debt Is Crippling America

In the near future, the U.S. debt ceiling will be raised to over $16 trillion. The current federal debt is101% of GDP. This is not sustainable in the long run. Where is the outrage?

If the main stream media were doing their job, there would be daily articles scathing the Obama administration for adding over $5 trillion of debt in the last three years, asking why there are no new programs designed to reduce spending and debt, and wondering why after three years of stimuli efforts there remain 1.6 million fewer jobs than in January 2009.

Instead of asking for answers to these important questions, much of the main stream media has joined the Democrat propaganda machine vilifying venture capitalists, asking for tax increases on the rich and extolling the perils of the nation’s wealth distribution.

Where are the stories of how private equity capital assisted in the development and success of companies like Microsoft and Apple or about the huge role equity capital has played in U.S. technology world dominance?

Isn’t United States GDP nearly three times that of its nearest competitor partly because of the infusion of private equity capital?

These stories remain unwritten while we hear stories about employees who lost jobs because a failing company was shut down.

Although the MSM would have us believe that wealth distribution trends in the United States are unique and harmful, many studies have shown that since 1910 these same trends exist worldwide.

The Huffington Post and The New York Times continuously refer to a survey by Michael Norton and Dan Ariely showing wide variances in wealth distribution between Sweden and the United States, and that Americans overwhelmingly prefer the Swedish model. But they fail to mention that the authors conveniently chose to use income distribution for Sweden and wealth distribution for the U.S.

I’m not sure what these trends mean, but I’m sure that I would rather live in a country where everyone has the freedom and opportunity to acquire wealth.

America is where a minority child of modest means can attend Columbia University and Harvard University and become president.

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