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US debt a `national security threat`

Posted: 2010/06/28
From: Mathaba

June 28, (mathaba) -- "It's time to stop talking about fiscal discipline and national security threats as if they're separate topics: Debt is a national security threat," said House Democratic Majority Leader Steny Hoyer on Monday, according to France's news agency AFP.

Hoyer warned against the United States debt, calling for military spending cuts and increasing taxes in order to fully "recover" from the "recession", a politically correct term for the collapse of western capitalism.

Mathaba recently published an independent analysis predicting U.S. economic policies would follow those of Britain recently introduced by the Anglo-American elite, which is subservient to Israeli zionist control.

In a speech prepared for delivery to the Center for Strategic and International Studies, the Maryland legislator and President Barack Obama's ally warned that "unsustainable debt has a long history of toppling world powers" and that China, as a major holder of US debt, could challenge US leadership.

Hoyer urged a "budget compromise" that would "restore our fiscal balance and health" and cited measures enacted by former presidents George Bush and Bill Clinton -- who both raised taxes to harness the US debt.

Top House Democrats have signalled in recent weeks that they might not back new tax cuts for upper-income Americans.

Total national debt of the once number one economy in the world has exceeded 13 trillion dollars in 2010 and has the largest debt in the world.

The US economy accelerated its collapse since December 2007 amid a financial crisis that capitalists say was triggered by a home mortgage meltdown.

Others say that the collapse of western capitalism is inevitable, as it is based upon taking without giving, and that the balloon must inevitably burst.

The United States economy is struggling with official figures showing around 10% unemployment with more than eight million jobs lost since 2008.