The Real State Of The Union – From President Eisenhower

Dwight D. Eisenhower

Dwight D. Eisenhower

The columnists at MarketWatch must have misread the memo from Murdoch about being staunchly Republican and pro-business no matter the cost. Following Paul Farrell’s rant about the conspiracy of the super rich, now Brett Arends reminds us of Dwight Eisenhower’s warning of a military-industrial complex taking over the United States — and shows us that it’s already happened:

Forget the posturing you’re going to hear tonight. Do you want to hear the real state of the union? Just ask Ike: President Dwight Eisenhower.

As fund manager Jeremy Grantham notes, it was 50 years ago this month that the old general delivered his famous farewell address to the nation after a lifetime of service that few will ever match.

Less well-remembered: His warning against hocking ourselves up to the eyeballs as the easy way out of any problem.

“We… must avoid the impulse to live only for today, plundering, for our own ease and convenience, the precious resources of tomorrow,” he said. “We cannot mortgage the material assets of our grandchildren without risking the loss also of their political and spiritual heritage. We want democracy to survive for all generations to come, not to become the insolvent phantom of tomorrow.”

Living only for today?

Mortgaging our grandchildren’s assets?

An insolvent phantom?

Hmmm. Sound like anyone we know?

Today the United States is more in debt than any country, ever, in the history of the world. And it’s not just the ballooning federal debt that you keep hearing about. Companies are hocked up to the eyeballs. States and towns. And, of course, families.

Already, the total is $36 trillion. That is nearly three times the size of the economy. (And that is not even counting the trillions in so-called unfunded liabilities for the likes of Social Security and Medicare and municipal retirement plans.)

Just this conservative figure works out at about $300,000 per American household.

About half of that has been racked up in the last decade. About two-thirds of it just since 1990.

In Eisenhower’s time, gross federal debt was about half of GDP. And most of that had been built up fighting the Second World War.

This year it will reach about 100%.

What did we do with the money we borrowed? We had a housing bubble. And we bought a bunch of Jacuzzis and flat-screen TVs… made in China.

The situation is getting worse, not better…

[continues at MarketWatch]

, , , ,

  • Pingback: Tweets that mention The Real State Of The Union – From President Eisenhower | Disinformation -- Topsy.com

  • Ironaddict06

    What people need to wake up and realize is there is a MEDIA-INDUSTRAIL-COMPLEX.

    • Liam_McGonagle

      Although I’m kinda sympathetic with your point of view on this, more and more I come to believe that the secret to keeping a lid on dissent isn’t hiding things from people, but parading their powerlessness in front of them.

      What part of this shit is exactly a secret? I’m hardly Morocco Mole or Maxwell Smart, yet even I can see Big Oil and ‘security’ contractors profiting fom the endless wars in the Middle East. The big “Fuck You, Middle America” that isObama’s business/taxation policy is not exactly hidden, not with the Dow topping 12,000 today and real unemployment still well over 10%.

      No, the way this works is to let this shit fester out in public, and rub the People’s impotence in their faces. The horrific cognitive dissonance this creates is a better prophylactic against an uprising than Soviet-style censorship ever could be.

  • Ironaddict06

    What people need to wake up and realize is there is a MEDIA-INDUSTRAIL-COMPLEX.

  • Liam_McGonagle

    Although I’m kinda sympathetic with your point of view on this, more and more I come to believe that the secret to keeping a lid on dissent isn’t hiding things from people, but parading their powerlessness in front of them.

    What part of this shit is exactly a secret? I’m hardly Morocco Mole or Maxwell Smart, yet even I can see Big Oil and ‘security’ contractors profiting fom the endless wars in the Middle East. The big “Fuck You, Middle America” that isObama’s business/taxation policy is not exactly hidden, not with the Dow topping 12,000 today and real unemployment still well over 10%.

    No, the way this works is to let this shit fester out in public, and rub the People’s impotence in their faces. The horrific cognitive dissonance this creates is a better prophylactic against an uprising than Soviet-style censorship ever could be.

  • http://theeisenhowerdollars.com Eisenhower Dollars

    George T. Morgan never could have guessed that his new silver dollar of 1878 would become the most important silver coin in the United States and the most widely collected coin in all of numismatics. Morgan’s design is simple yet elegant, with a classic head of Liberty and an eagle with outstretched wings. Thanks to large hoards of silver dollars uncovered over the years, sufficient quantities of Uncirculated coins exist to support the active collector market. Key dates in this series include the 1889-CC, 1892-S, 1893-S, and the proof-only 1895. Certain Uncirculated silver dollars have mirrored surfaces ranging from partially mirrored to deeply mirrored. A deep mirror proof-like is the collector’s dream, and some dates are extremely rare in this format.