With an aggregate deficit approaching 52 trillion dollars between government and corporate debt, and some 68 cents of every dollar being used to service the debt, it is inconceivable to me that this economy can survive long term. When the debt exceeds 200 to 300 percent of GDP, it is not hard to see that in point of fact, GDP is actually being "funded" by the deficit spending vs. real growth.
In the 1960s, then President John F. Kennedy supported the innovative and entrepreneurial America that created industry, technology, Project Apollo which put men on the moon, the Space Shuttle Program, new technology in medicine, flight and most other disciplines. College enrollments were on the rise, and a smarter, well educated society was evolving. And then we "tripped."
A society of producers has been commandeered by a society of takers, a well educated and smarter society has been traded away for a society of selfish interest and social promotion, and the American psyche has been consumed by the force of "political correctness" and mediocrity in the name of some sort of "equality" abstraction and sense of consensus.
The Romans, the Greeks, the Carthaginians and now the Americans, share a common fate ... we just won't learn from history!
Dr. J
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