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Thursday, February 10, 2011

Former New Mexico Gov. Gary Johnson warns of “imminent financial collapse”

Straight talk from Gary Johnston at CPAC:

“We're on the verge of an imminent financial collapse unless we right the financial ship. And to balance the budget we need to cut 43 percent of what government spends and that starts with Medicaid, Medicare, Social Security and Defense.”

 Here’s more from this libertarian Republican on ABC News:


Posted by Matthew Johnston on February 10, 2011 | Permalink


Good to see you back. The US will have major problems with SS. Hard to take something from someone when they have paid into it. The other issue of cutting back on the military is going to be tough, especially while China is massively expanding its military.

Posted by: The Stig | 2011-02-10 3:28:56 PM

43 % decrease ??. The will to cut even 5% is far from becoming a reality. Since almost all manufacturing (except military) has been outsourced to China, India and other third world countries, the only direction the US economy can go is down. The unemployment rate will continue to creep up and the public unrest will escalate. The next few years should be very entertaining. Starting in a few months as individual states declare bankruptcy and look for a bailout from a federal government that is already bankrupt.
These are still the good times. The real pain will start next year...after the election.

Posted by: peterj | 2011-02-10 5:05:33 PM

He is alive, wow where ya been MJ?? Have not seen you post in a LONGGGGGG time.

Posted by: Merle Terlesky | 2011-02-10 7:10:56 PM

'especially while China is expanding their military.'

The USA maintains 10 Super Carrier Battle Groups throughout the worlds seas. 3 or more of these battle groups would savage China.

China may be building some ships and some stealth planes. What the Yanks excel at and have been for some time, is their Navy. Their training and equipment is first rate.

China's at least 20 years behind or more than the American Navy, especially in logistics and pilot training.

Some tough $$ choices are going to have to be 'Made in America.'


Posted by: jeff franklin | 2011-02-10 9:07:16 PM

"The USA maintains 10 Super Carrier Battle Groups throughout the worlds seas. 3 or more of these battle groups would savage China."

No it doesn't. Only one is based outside US waters and that is in Japan. And of the groups based in the US several are technically separate but have been effectively merged into other groups. So the real number is more like seven. The US's military strength is waning and the Chinese know if they wait they'll eventually be at a point with conventional and nuclear forces will have a degree of parity.

Posted by: The Stig | 2011-02-11 7:59:06 AM

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Posted by: Olivia | 2011-02-11 10:10:45 AM

Glad to see you back and a good post. The one thing that bothers me about hearing a politician talk of the need to cut government services is that no one seems to begin by cutting the size of government. The Americans have an oversized federal government, which has often encroached on the jurisdiction of the states, and most, if not all, states have bloated governments not to mention the cities. The same applies to our federal, provincial and municipal governments, yet this never seems to be addressed.

Posted by: Alain | 2011-02-11 11:09:52 AM

"yet this never seems to be addressed.

Posted by: Alain | 2011-02-11 11:09:52 AM

The federal, provincial, state workforce in both US and Canada has actually grown since 2008. Much of the growth attributed to the "greenie" movement and increase in regulations at all levels. Also slowed down the unemployment statistics which is important with impending elections. Bad for the general public since governments only have the money they take from us.
The best one is still the carbon tax,...a tax on absolutely nothing. Every politicians dream.

Posted by: peterj | 2011-02-11 12:31:13 PM

Peter, yes indeed that is a big part of the problem in talking about cutting services without addressing the problem of bloated government. Perhaps I should clarify that I am referring to all the government workers, not elected politicians. Attempting to cut any kind of service alone will never work, since for every service there is a huge bureaucracy dependent upon the existence of the service. The bureaucracy will fight tooth and claw against the elimination of the service, including the undermining of the government in power.

Posted by: Alain | 2011-02-11 6:58:36 PM

He is prescient because only a half million people have beat him to this conclusion.


Posted by: GeronL | 2011-02-12 12:41:38 AM

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