One Nation. Under Stress. In Debt.

I am one of a growing number of people who believe our nation is headed toward the most serious economic problem we have ever faced as a nation. A problem that if unaddressed, will make the "Great Depression" look mild in comparison. We still have a chance, although slim, to fix it before our nation comes crumbling down around us, BUT it will take immediate action by our next president and Congress AND the support of the American people.

We as Democrats, must make this the most important issue of our times. We care about America and its people, but unless we show our support for the tough decisions that must be made, we will be dooming our children and grand children to a unimaginable future.

I have posted many diaries on the work of David Walker and the problems facing our economy. Here are a few:

Economic Abyss, Economic Meltdown, Social Security and Medicare Crisis, The Selling of America, But they are just diaries

David Walker's organization is gathering steam in a move to bring this issue to the forefront of American consciousness and force politicians on both sides of the aisle to address it.

I received the following email this morning from the David Walker. It was also sent to thousands or millions of others, so I don't feel to special.

If you feel there is no problem, then ignore this diary. If you feel, as I do, that this problem exists and that ignoring it will not make it go away, then please follow the links in Walkers email below, READ AND SIGN HIS PETITION, and let's help him start the process. Nothing short of the future of our nation is at stake.

Dear Friend,

Can "we the people" really save our economy? Can we really force our government to face the inconvenient truth of the $53 trillion hole we're in? That's the sum of all the US government's current financial obligations including unfunded promises for Social Security and Medicare - a $455,000 bill for every household in this country.

The answer is "YES" - there IS something each of us can do. Click here to add your signature to a letter we're publishing in the New York Times (more on the letter below).

This new movement for fiscal responsibility is just a few weeks old. And yet, thanks to folks like you, we've already made significant strides:

Over 100,000 of you have already signed on to help us fight for fiscal responsibility in Washington and at home

Our effort already has been covered extensively by the media, ranging from the New York Times, ABC News and CNN to literally thousands of blog mentions (source: Technorati)

"I.O.U.S.A.," our feature documentary about the impending fiscal crisis, has made an incredible splash. Not only did the film get three and a half stars from Roger Ebert, and rave reviews from the New York Times and other critics, but it set an opening-day record for a documentary, thanks to a bonus post-screening town hall, and is about to break into the ranks of the top 100 highest-grossing documentaries of all time (source: BoxOffice Mojo).

That's right - a documentary about fiscal responsibility is about the break into the top 100! And the film is still in theaters in selected cities; Check here for the listings.

We've taken the first step together, and we've begun to build the movement that cynics claimed was impossible. We're sounding the alarm and America is waking up. Now, it's time to take it to the next level. Here's how you can help:

This Sunday, we'll be publishing a letter across two full pages in the New York Times calling upon the presidential nominees to move beyond the "denial" stage, recognize that America has a $53 trillion problem, and start taking steps to solve it. This letter will be signed by a bipartisan group of some of the country's most prominent leaders in finance and fiscal policy-making, and by representatives of young people's organizations around the country. You can add YOUR name by visiting www.PGPF.org today. Please help us make this letter one our next President can't ignore.

Are you on Facebook? If so, please visit the Peter G. Peterson Foundation and I.O.U.S.A. pages and become a fan today.

And finally, spread the word! Forward this e-mail to your 10,000 closest friends.

We've started a movement for fiscal responsibility - a movement few thought possible. And with your help, we will wake up America and set the nation on a course toward a more secure future and a brighter tomorrow.

All the best,
Dave Walker
President and CEO,
Peter G. Peterson Foundation

Venting on "Dubya"

Believe it or not, Bill Kristol and others have stated that George Bush's tenure in office will be seen as a success by Historians. I adamantly disagree, as I am sure most of you on this site do.
This is the second printing of an open letter to Mr. Bush explaining just a few of the reasons why I feel as stongly as I do. Feel free to add addtional reasons why this man is, and has been, a total screw up.

Economy:

The great economy that you say exists, is an illusion. You have used our national "credit card" to run up a $9 Trillion foreign debt. Anyone can make the economy look good when you are charging what you spend. We haven’t paid for this economy, we’ve charged it. China, and other countries are paying for our economy. Currently, every man, woman, and child in this country owes approximately $30,000. This great economy you talk about will be paid for by our children and grand children, because the debt WILL eventually come due. We are borrowing approximately $35 Billion a month to prop up this great economy. If the econcomy was as good as you say, we would be paying down this $9 trillion debt instead of adding billions to it each month. We can not produce our way out of this debt.

By a "good economy", do you mean for corporations or the American people? Yes, corporate profits have increased steadily since 2001, but unfortunately that’s because of the "Credit card" bubble we live in. The poor are getting poorer, the number of people in the middle class is shrinking, and the wages of those in the middle class is stagnate or losing ground. Corporations are going abroad and taking more and more jobs with them, and we are importing more and more cheap, foreign labor to work in the jobs they leave behind.

Yes...the stock market IS rising, corporations ARE making more profits than ever, and the rich ARE getting richer, but unfortunately the majority of people in this country; the people on whose backs this country was built, are losing ground at an ever increasing rate.
What a wonderful economy.

War in Iraq:

Oh where, oh where is Osama ? Whether we agree with the war or not, you have to agree that the primary terrorist organization that caused all this mess is still at large and getting stronger again. Instead of finding and killing this mad man and eliminating his organization, like we should have, you shifted those assets to Iraq to fight a war that no one in the region thought was necessary.

Forget WMDs and all the other bogus reasons given for invading Iraq, I have always been against the war for one simple reason: our allies in the region, who helped us during Gulf War 1, and had more to fear and lose from Saddam Hussein than we did, didn’t believe that he was an "imminent" threat and wouldn’t help us. These are people who hated Saddam Hussein, and still wouldn’t help us. Turkey even turned down $5 Billion in aid when we asked to stage troops out of their country. Saudi was no where to be found. Only a few minor and major nations in the world offered to help (and that for gain or out of loyalty), most saw from their own intellegence sources that he was not an "immediate" threat and refused to help us.

If your reason for being in Iraq is to help poor Iraqis (as you NOW say), why haven’t we sent troops to Darfur, or any other country where an insane leader is abusing and commiting atrocities against his own people. They are not hard to find. Only you know why we are in Iraq, but one thing is for sure: It is NOT the right reason. The American people now know it, even if you still think you can get away with lying to us.

Homeland Insecurity:

Al-qaeda is on the rise and will strike this country again, because our Homeland Security is a joke because you took your eyes off the ball. You have hired incompetent cronies to fill key positions at the detriment of everyone in our country. In the past 6 years you have squandered our national resources and the lives of thousands of Americans. Instead of spending the Billions of dollars necessary to secure our borders, ports, airlines, and cities, and to hunt down and kill those who actually attacked us on 9/11, you have wasted them on a venture in Iraq, for reasons only you know.

Our Homeland security keeps talking about the terror plots they have foiled since 9/11, but forget to mention that a devastating attack on our country, that could kill millions of citizens, is as close as 1 illegal alien away.

500,000 illegal aliens cross our borders successfully each year. We don't know who they are. We don't know where they are. Any one of which could be a terriorist with a nuke, destined for the closest major city. His stay in the United States could be as little as 1 hour.

Millions of citizens dead before our "homeland insecurity" even knew he was here. You claim to be keeping us safe by fighting a war half way around the world, but refuse to make "closing our borders" a national EMERGENCY. WHY ?

Of the hunderds of thousands of cargo containers that come through our ports, 1% are actually checked for explosives, dirty bombs, or anything else. How many nukes could be cargo on the remaining 99%. They would be shipped unchecked to cities throughout our country and exploded within 2 days of arrival, without "homeland insecurity" having a clue they are even here. WHY ?

Has the war in Iraq made you feel safer? Not me !

Winner ??

You will go down in history as the most incompetent president our nation has ever had. The number of screw ups you have accomplished in 7 years in the name of corporate greed is staggering and has never been equaled by another president. From bad trade agreements at the detrement of American workers to lack of help for those who still suffer as a result of Katrina, you have gotten it wrong at every turn.

Unfortunately, your mistakes have, and will, cost more lives. I just hope there is a country left, when you finally leave office.