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Wednesday, July 13, 2011

THE I.M.F

image courtesy PhotoBucket

President Obama and the Democratic Senate have voted to give the International Monetary Fund a 108 billion dollar line of credit which they can draw on at their discretion.

Whether it is Greece, Italy, Spain or Ireland that has been living “High on the hog,” and needs some more bail-out - - the bottom line is: “We the people,” are going to get the bill for their extravagance.

At present we are obligated to pay about 20% of the monies the IMF collects.

Christine Lagarde, the new IMF head is becoming impatient with the Republicans refusal to raise the debt limit so the IMF can get their share of the pie.

I wonder when this insanity will end. How long can we afford to borrow money and give it to other countries to maintain their failed political system?

The money polar caps are melting and soon we are going to be under the water of debt and don’t expect someone to come and bail us out.

The next election will decide whether the USA can survive. Unless all of the old politicians are voted out of office it will be goodbye to the old USA.

For these people on both sides of the aisle will see to it. Just look at where they have taken us to and they don’t know how to change.

It can and will get worse so sit back and enjoy the ride into political perdition

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