The random political thoughts thread (Part Deux)

[innerSpaceman]

Originally Posted by wendybeth

Reagan was very proud of himself for basically outlasting the Soviet martial spending spree, and here we are doing it to ourselves.

To which I might add ... there's still a trillion dollars left out there of default and dead investments heading the way of U.S. Banks. The two billion that hit them so far, and for which they received a bailout from the Federal Reserve, is a drop in the bucket. The Federal Reserve, as I understand it, has only 400 billion dollars left. Not enough to cover 1 trillion in pending bank losses.

Yet we spend a trillion a year on wars overseas. Either that stops or, yes, our own military spending puts us into complete financial ruin.