Illusion Vs. Reality:American Economy Is Booming

This is one of the illusions that the politicians love to throw in our faces but the truth of the matter is that our economy is not booming. Jobs are being shipped overseas at a very fast pace. I read a story the other day about 25,000 people coming out for 250 jobs at a Walmart in Chicago. Now if our economy was booming, wouldn't the number of people searching for Walmart jobs be much lower? People do not stop to analyze the propaganda forced upon us through Fox news and CNN but you can see the reality of the situation just by looking at our national debt. This is from an article titled "U.S. In Technical Default":

In a shocking development, the Treasury Department website is openly stating that as of January 24, 2006 our national debt stood at $8,185.3 billion and on January 26th at $8,190.5 billion.

Yet the US national debt ‘ceiling’, the maximum amount of debt the US government may hold at any one time, stands at $8,184 billion – a full $5.5 billion less. Although called upon by John Snow, Congress has not yet passed an expansion of the debt ceiling and so the US government is now operating in technical default.

You may recall that when last the debt ceiling was approached in the months surrounding the 2004 elections, the Treasury department furiously employed every accounting trick in the book (and then some) to avoid breaching the limit. They even went so far as to take the unprecedented step of borrowing $14 billion from the Federal Financing Bank to cover up the shortfall.

But they never breached the ceiling.

On January 24th they breached it brazenly and openly and with nary an accompanying explanation. Neither have any lawmakers have broached this indelicate subject.

Reality: The American economy is not booming. The American economy is on the brink of collapse. Something like a war with Iran combined with maybe a switch to using the Euro as the reserve currency for trading oil and the American economy would easily collapse.