By DEADLY CLEAR

Like many Americans I have wondered what the actual spending habits of the government look like.  Here’s a pretty good chart the New York Times posted on the economy.
Looks like President Bush’s spending habits were about as bad as Wall Street’s securitization Ponzi scheme – the timing of the rip-offs are about the same.  The unanswered question is how much of the debt that is held by “THE PUBLIC” in state and local government pension funds is still holding value? For that matter – how much of all of that debt has actual legitimate value?  Maybe it was all invested in Fannie Mae and Freddie Mac bonds – and we all know how much value they have at the moment.

Could it be that the debt is backed up by American homeowner’s properties that Wall Street scammed with defective loan products (ARMs) from 2001-2008?  Is that why foreclosures continue in order to back up the debt that President Bush used to fund his wars?  Was Wall Street’s securitization Ponzi scheme the vehicle that created the borrowed money?