With the passage of the EERA 2008 and being signed into law by our dear, misguided and confused President Bush (I am a conservative and voted for the bozo), the USA has now progressed into the status of being a socialist country. The socialization of risk (the assumption of bad debts and bad decisions by private companies) is only the first step on the path towards a European-style socialistic form of government.
Study history since this is how most of the European countries started down that path of socialism. After WWII, most governments used that crisis to nationalize most of the private operations of their financial institutions, then to pay for the poor performance and centralized planning, they had to increase the tax rate on everyone not just the rich (heard that before?). Finally when the tax rate started approaching 70-80%, the public just gave up and told the government to take over and provide them their livelihood (remember "bread and circus") and take care of everything else of interest.
The USA when it elects BHO (Barack Hussein Obama) and an all-Democratic Congress in November will take the 2nd step. Over the 4 to 8 years of BHO's tenure, the USA will do the following:
1. Nationalization of health care and prevention of doctors from leaving the USA
2. Nationalization of the education system (no more private education)
3. Socialization of the welfare system ensuring that everyone gets a living wage
4. Socialization of the housing system so everyone has a place to live
5. Demilitarization of the US military giving control of our soldiers and weapons to the UN
6. Revocation of the 2nd amendment pertaining to private ownership of firearms
7. Federalization of the public air wave and media via the "Fairness Doctrine"
8. Suppression of conservative religious activities via IRS revocation of "tax exempt" status
9. Huge increases in tax rates on corporations so that when they fail, the Government must nationalize them
10. Finally, the piece de resistance, will be the rationing and price controls of goods and services as the free-market fails to work due imposition of global warming reduction initiatives that hamstring the US economic engine.
We are headed towards the USSA: the United Socialist States of America
Enjoy your lack of discipline, character, and citizenship, America. You have doomed your future to that of a 3rd World status.
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