Every now and then – and with increasing frequency in all areas – I come across truly cogent articles elucidating in painful detail exactly why George Bush and his calamitous government has wrecked a great country. In this case, a financial analysis based on the thoughts of Robert Hormats, vice chairman of Goldman Sachs (International). A pertinent quote:
The truth is, America's leaders have already squandered "Hamilton's gift" (a policy of paying off war debt), and along with it, more than two centuries of experience, replacing it with a new "faith-based" policy: "Deficits don't matter."
No wonder Main Street Americans have a "gut instinct" that we're a disaster waiting to happen. Not only are we "transferring an inordinate burden to future generations," says Hormats, Washington's undisciplined spending and total lack of a financial repayment plan is undercutting our national security and exposing America to the worst-case scenario: Another domestic terrorist attack that would trigger a "massive disruption of our economy" and a meltdown of America's credit rating throughout the world.