From: bfrg9732@uxa.cso.uiuc.edu (Brian F. Redman)
Subject: Bankruptcy 1995 (part 1)
Summary: The approaching fiscal Armageddon
Organization: University of Illinois at Urbana
Date: Mon, 16 Nov 1992 00:46:59 GMT
Keywords: treachery trickery deceit deception



Bankruptcy 1995: The Coming Collapse of America & How to Stop It.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

by Harry E. Figgie, Jr.
with Gerald J. Swanson, Ph.D.

About the authors:
-- Harry E. Figgie, Jr. is the CEO of Figgie International Inc., 
a diversified *Fortune 500* operating company. He was co-chairman 
of President Reagan's Private Sector Survey on Cost Control, also 
known as the Grace Commission.
-- Dr. Gerald J. Swanson is an Associate Professor of Economics 
at the University of Arizona.

"Any profits from this book have long since been assigned to 
charity. We make no profit whatsoever from it." (p. 25).

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
*                                                               *
* The United States has a problem that is easy to understand,   *
* but whose effects are difficult to comprehend. Its solution   *
* is simple to prescribe, but hard to implement. This problem   *
* is more insidious than drug addiction, more pressing than     *
* recession; it is crueler than poverty and illness and more    *
* hazardous than a hole in the ozone.                           *
*                                                               *
* This problem, which is of our own making, will precipitate    *
* an economic nightmare that will dwarf the Great Depression    *
* and turn the history of America into one of history's         *
* closed chapters. This problem has a name. It is *government   *
* debt.*                                                        *
*                                                               *
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

--------------------------- part 1 ------------------------------

The book begins with a Foreward by U.S. Senator Warren B. Rudman. 
The senator begins by pointing out that we are currently at war: 
"We are at war economically."

While war is usually thought of in the traditional sense of 
soldiers and battles, such now is not the case. "Our nation's 
wealth is being drained drop by drop, because our government 
continues to mount record deficits and, in order to finance its 
obligations, puts us at the mercy of foreign lenders."

Rudman thinks that this problem has developed due to a 
"conspiracy of silence among presidential candidates and most 
members of Congress." Because these people are politicians, they 
are reluctant to inform their constituency for fear that this 
will cost them votes and hurt their chances for re-election. So, 
nothing much has been said and the problem has continued to grow 
over the years.

Rudman is alarmed that the future of the United States "will 
consist of economic disaster unless we take immediate remedial 
action."

"We are about to enter an era of $400 billion to $500 billion 
annual deficits... We are simply mortgaging the future for the 
present... The money we have worked so hard to save all our lives 
will be worthless."

And, he adds, "Time is running out."

The senator closes by imploring us to wake up to the urgency of 
this situation: "Nothing is more important to the future of our 
country than getting this problem under control. We must treat it 
for the war it is..."


------------------------- end part 1 ----------------------------

You can do a lot of good by taking this article and posting it to 
other areas besides "alt.activism." You can also post this or 
upload it as a file to a local BBS. This would help give the 
people of this nation an alternative to the "fluff" and 
propaganda posturing as hard news which they are currently 
getting from the major networks.


Synopsis/Review by Brian Redman
"Ah yes, Armageddon. I remember it well."
End part 1



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