America: A Debtor Nation and now bankrupt citizens

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I am late on reporting this, but it is worthy of posting. Sen. Joe Biden spoke on the floor of the Senate in March on the National Debt ceiling. Here is a part of what he said:

"In the 5 years he has been in office, President Bush has added more to our foreign debt that the 42 Presidents before him. It took 224 years to accumulate $1 trillion of debt to other nations. It took President Bush just 5 years to more than double it.

Over $3 trillion in debt, foreign debt and debt held by Americans, has been piled up by this administration.

When he set out on the course that brought us to this sorry state, the President was clearly and repeatedly warned that massive tax cuts would leave us vulnerable to natural disasters, economic slowdown, or threats to our national security. ``Don't worry,'' the President told us. ``I know what I am doing.''

After 9/11, in the face of what he has himself called the moral equivalent of the World War II, or the Cold War, he insisted that while everything else had changed, he would not change his economic policies.

Facts had changed. His promise to balance the budget, his promise to pay down the debt, were proved to be false.

But he refused to take responsibility for his policies. He refused to admit that a changed world demanded a change of course. His refusal has pushed us deeper and deeper into the hole.

His refusal added $450 billion to the debt in 2002; it added $984 billion in 2003; it added $800 billion in 2004. And here we are again today, adding another $781 billion. With that addition, our national debt will be $8.6 trillion at the end of this year.

The President's budget plans will bring that number to $11.8 trillion at the end of the next 5 years.

This is a record of utter disregard for our Nation's financial future. It is a record of indifference to the price our children and grandchildren will pay to redeem our debt when it comes due.

History will not judge this record kindly.

My vote against the debt limit increase cannot change the fact that we have incurred this debt already, and will no doubt incur more. It is a statement that I refuse to be associated with the policies that brought us to this point."

That speech by Sen. Biden was not covered much by the mainstream media and I was happy to post it here. And now the American people are going bankrupt with high gasoline prices and a President and Administration unwilling to take tough actions to get us off Middle Eastern oil and on to renewable energy, in a meaningful way. That's what we get having 2 Oilmen in the most powerful offices of our government. And unlike Cheney, Bush had his oil company go bankrupt and needed to be rescued by the financing of the Saudis. Think about this for a moment. The most profitable possible business in America, and this President drove it into bankrupcy in a relatively short time. This is just like America going from the leading Lender nation to the biggest Debtor nation, all in less than 5 years! Unbelieveable!

The best investment we have made in the past 5 years was in 44 Solar Panels on our roof, which made us totally independent of electricity from the Power company. We use the power we generate to heat our floors through heater coils under our marble floors and the suns rays on our floors when the sun is shining and it is cold outside. I haven't had an electricity bill now in 4-5 years, except for the power company fees to be hooked up to the Power Grid. We have sent back into the Grid excess electricity when we don't need it. Consider Solar Energy for your home. Everyone can help reduce our dependence on Middle Eastern Oil. Every bit helps.