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Opinion by Lau Vegys:
America's problems aren't fixable with patriotic sentiment. They're mathematical realities that don't care about your flag-waving.
The national debt recently hit $37 trillion. By 2033—the same year Social Security's trust fund runs dry—we're looking at debt exceeding $50 trillion. Interest payments alone will consume nearly half of all tax revenue.
At that point, the Federal Reserve will have no choice but to print tens of trillions of dollars to bail out the Treasury. The resulting inflation will make the early 1980s look like a picnic.
And of course, as I mentioned in a recent piece, whether it's $37 trillion now or $50 trillion in about eight years, the headline number is just the tip of the iceberg.
Add it all up—Medicare, Social Security, federal pensions, and other off-the-books promises—and the real financial hole the U.S. government faces is closer to $150 trillion. That’s nearly $1 million per taxpayer.
Better a poor and wise youth Than an old and foolish king who will be admonished no more. Ecclesiastes 4:13
Question:
Or what king, going to make war against another king, does not sit down first and consider whether he is able with ten thousand to meet him who comes against him with twenty thousand? Luke14:31
Answer:
A king who watches too much FOX TV, reads too many Marvel comics, pays attention to the New York Times, and watches too many Hollywood political thrillers.
The narrow strait is the most important chokepoint for the world's oil supply. Some 21 million barrels — or $1.2 billion worth of oil — pass through the strait every day.
Will a closed Strait hurt Iran? In terms of international oil sales, yes, but in terms of daily life, no. Iran pumps 3.5 million barrels of crude oil per day. The situation at this hour:
