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Subject Ready for Europen Style Austerity America?

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Original Message "NEW YORK (CNNMoney.com) -- FDIC Chairman Sheila Bair believes "urgent action" is needed to lower government debt and forestall the next financial crisis, according to an op-ed piece published Friday.

"Even as work continues to repair our financial infrastructure and get the economy moving again, we need urgent action to forestall the next financial crisis," Bair wrote in the Washington Post. "I fear that one will start in Washington."

Citing a sharp increase in federal debt, which is now approaching $14 trillion, Bair argued that "relentless federal borrowing" will eventually "directly threaten our financial stability."

"This explosive growth in federal borrowing is a result of not just the financial crisis but also government unwillingness over many years to make the hard choices necessary to rein in our long-term structural deficit," she writes."

[link to money.cnn.com]

So we now have Republicans in Congress who are going to put a stop to all this spending right. But wait the nation is bankrupt, hell the world is bankrupt based on the rules of the financial system and fiat currency. So if we don't print money in America ala Quantitative Easing then how do we pay our bills? We have to cut spending. This woman at the FDIC has just taken the first step in the public domain of the coming cuts to your services starting with the 99ers and their unemployment. This is what is really going to crush America and set her off.

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