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A perfect storm of events is eroding the perception of American deterrence—and the world will shortly become an even scarier place. The fiscal crisis has cast doubt on the government’s ability to act forcefully, especially the president’s emasculation during the entire process. These perceptions, of course, pale in consideration to the reality of out of control spending the first three years of the Obama administration that added almost $5 trillion to the U.S. debt and is both humiliating America and questioning whether it can still pay for its enormous military. Almost every day, we are borrowing $4 billion, enough to build a new fleet aircraft carrier and, of course, are not building aircraft carriers with such daily deficits as we did in World War II.

via Works and Days » Unchained World.

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July 30, 2011 Posted by | buisness, deficit, government | , , | Leave a comment