Going way of Argentina!!! Originally sent to subscribers in 2007.
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"If we ever forget that we're one nation under GOD, then we will be a nation gone under." - Ronald Reagan
People that are unable to learn from others mistakes, or to remember history, are destine to make them again and again and again.
Nothing is more true than watching the path that our country is on today. We've done it, other's have done it, yet here we go

as if it's never happened before. All this while others follow the script as if in a movie already seen.Cry for Me, Argentina

In the early 20th century, Argentina was one of the richest countries in the world. While Great Britain 's maritime power

and its far-flung empire had propelled it to a dominant position among the world's industrialized nations, only the United

States challenged Argentina for the position of the world's second-most powerful economy

It was blessed with abundant agriculture, vast swaths of rich farmland laced with navigable rivers and an accessible port system.

Its level of industrialization was higher than many European countries: railroads, automobiles and telephones were commonplace.

In 1916, a new president was elected. Hipólito Irigoyen had formed a party called The Radicals under the banner of "fundamental

change" with an appeal to the middle class. ("Fundamental change"... now where have I heard that?)

Among Irigoyen's changes: mandatory pension insurance, mandatory health insurance, and support for low-income housing

construction to stimulate the economy. Put simply, the state assumed economic control of a vast swath of the country's operations

and began assessing new payroll taxes to fund its efforts. (Beginning to sound more familiar?)

With an increasing flow of funds into these entitlement programs, the government's payouts soon became overly generous. Before

long its outlays surpassed the value of the taxpayers' contributions. Put simply, it quickly became under-funded, much like our

Social Security and Medicare programs. (And, more!)

The death knell for the Argentine economy, however, came with the election of Juan Perón. Perón had a fascist and corporatistupbringing; he and his charismatic wife aimed their populist rhetoric at the nation's rich. (Still more!)

This targeted group "swiftly expanded to cover most of the propertied middle classes, who became an enemy to be defeated and

humiliated." (And, more!)

Under Perón, the size of government bureaucracies exploded through massive programs of social spending and by encouraging the

growth of labor unions. (Do you see the light?)

High taxes and economic mismanagement took their inevitable toll even after Perón had been driven from office. But his populist

rhetoric and "contempt for economic realities" lived on. Argentina's federal government continued to spend far beyond its means.

(That can't happen here!)

Hyperinflation exploded in 1989, the final stage of a process characterized by "industrial protectionism, redistribution of

income based on increased wages, and growing state intervention in the economy..." (Never!)

The Argentinean government's practice of printing money to pay off its public debts had crushed the economy. Inflation hit 3000%, reminiscent of the Weimar Republic . Food riots were rampant; stores were looted; the country descended into chaos.


And by 1994, Argentina 's public pensions -- the equivalent of Social Security -- had imploded. The payroll tax had increased

from 5% to 26%, but it wasn't enough. In addition, Argentina had implemented a value-added tax (VAT), new income taxes, a

personal tax on wealth, and additional revenues based upon the sale of public enterprises. These crushed the private sector,

further damaging the economy. (Only happens in those lesser countries! NOT us!)

A government-controlled "privatization" effort to rescue seniors' pensions was attempted. But, by 2001, those funds had also been

raided by the government, the monies replaced by Argentina 's defaulted government bonds. (Hmmmm.... )

By 2002, "...government fiscal irresponsibility... induced a national economic crisis as severe as America 's Great

Depression." (But, we won't let that happen again... will we?)

We've seen this movie before. The politician's populist plans NEVER work, because power corrupts and government bankrupts

everything it touches. For those that will listen, history shouts over and over that we cannot sustain the wild spending and

government takeover of business, banking, health care, and continue to inflate unfunded entitlement programs! Like history tells

us, it will be utter and complete disaster!!!

Today's politicians are guilty of more than arrogant stupidity; they are enslaving future generations to poverty and misery. And

they will be long gone when it all implodes. They will be as cold and dead as Juan Perón when your children and grand children

must ultimately pay for the blind arrogance of politicians!




PS... while working America cuts back... Congress just increased government expenditures by 12% in the "Omnibus" spending bill of

nearly half a TRILLION!

In 2004 there was ONE person in the Dept. of Transportation making over $170,000!

Today that Dept. has over 1690 people making over $170,000!

Is your company, or ANY company, doing that well?

AND, this bill has 5224 earmarks totaling $4,000,000,000!

Every American should read this.

So, How’s that “Hope" and “Change” working out for you?

I don’t know the key to success, but the key to failure is trying to please everybody. -

'nuff said, I hope,

Larry afraid for my country in New Orleans

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