OPEN LETTER TO ALAN SIMPSON & ERSKINE BOWLES

Man, I liked this guy when he was on CNBC, like him even more now!

regards,
-Lance

------------------
OPEN LETTER TO ALAN SIMPSON & ERSKINE BOWLES FROM THE DAILY BAIL
posted by: Dylan Ratigan on November 11, 2010 in Business, Featured

Dear Esteemed Chairmen:
No huge surprise here (http://www.foxnews.com/politics/2010/11/10/deficit-commission-recommends-changes-social-security/ 
).  What’s unfortunate for you is that for years, even decades – going  
back to Ross Perot – the American people have been prepared for and  
willing to accept changes (cuts) to Social Security.  You, the  
politicians never gained the courage to ask, but I think for the most  
part the general public has been ready.  And since I’ve been screaming  
about these issues my entire adult life, and have always pushed the  
concept of shared sacrifice as a means to budget sanity and limited  
government, I’m not comfortable with what I’m about to write, but it’s  
inescapable after watching and recording a 32-month orgy of fiscal  
mayhem dominated by trillion-dollar bailouts, trillions in wasted  
stimulus, and trillions gifted to the military-industrial killing  
machine.

Fast forward from the Perot deficit awakening 20 years ago, and  
finally, you, the generationally-irresponsible political class seem to  
be facing up to the unfunded entitlement budget nightmare of your own  
creation – or at least you’re in the discussion phase of ‘facing it’ –  
and what is the societal backdrop?  Seething anger over the recession,  
the wars, multiple failed stimulus, dollar destruction, QE, and the  
government bailouts of favored industries.

So against this backdrop, your Commission now recommends cuts to  
Social Security and a hike in the retirement age to help us on our  
merry way to a fiscally sane future.

Here’s my recommendation for you.

The American people are willing to sacrifice as part of a shared  
effort at righting our budgetary path, but they are not prepared to be  
sacrificial lambs led to the ‘benefits and promises slaughterhouse’  
while the Wall Street Banker Pigs gorge on trillions in stealth FED  
and FDIC bailouts, ZIRP giveaways and a record $144 billion in bonuses  
– an amount equivalent to the 49th largest GDP in the world -  $144  
billion in bonuses being paid by criminally insolvent banks that are  
only still operating due to a Wall Street financed K-Street lobbying  
tsunami that forced FASB to change the accounting rules that now allow  
these same insolvent institutions of usury and arrogance to apply  
Faustian valuations to complete shit assets all over their lying,  
godforsaken, Enron resembling, off-balanced, imbalanced, bs-balanced,  
sheets.

Banks exist in the lala land of leveraged deferred tax assets  
representing most of tier-1 capital at Citigroup, of hundreds of  
billions of helocs at Wells Fargo worth pennies, but marked at  
dollars, of hundreds of billions of fraudulent MBS pumped out by  
Countrywide, whose liability now sits with Bank of America.  This is a  
mere glimpse of the great banking lie that provides cover for the $144  
billion insolvent bonus river that bathes the Street, all supported  
and paid for by taxpayers, Treasury and the Federal Reserve.   
Therefore, ultimately, taxpayers.

In this environment, selling ‘cuts to social security’ is not going to  
work, and considering the role you both played in creating the  
irresponsible federal spending machine that now controls Washington  
and has bankrupted future unborn generations, fuck you for even  
bringing it up.

Signed,

The Daily Bail
-- 
dadl-ot mailing list
http://mail.thehood.us/mailman/listinfo/dadl-ot_thehood.us
http://news.gmane.org/gmane.music.dadl.ot