Tags: gross | debt | defcit | obama

Gross: Debt Heads U.S. Toward 'Destruction'

Thursday, 03 Dec 2009 03:08 PM

By Jim Meyers

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Social scientist and New York Times best-selling author Martin L. Gross tells Newsmax that America’s soaring national debt is taking us down a path of “absolute destruction.”

Gross has testified before six congressional committees on government inefficiency and is the author of the new book "National Suicide: How Washington Is Destroying the American Dream from A to Z."

Newsmax.TV’s Kathleen Walter, noting that President Obama has been moving forward with an effort to raise the national debt limit, asked Gross how damaging the ballooning debt is to the economy and ultimately the nation.

See Video: Martin Gross reveals the frightening truth behind Obama’s massive debts - Click Here Now

“It’s going to destroy us eventually unless it’s curbed,” Gross declared.

“Mr. Obama said the other day that the debt was $1.4 trillion. The New York Times had it in a headline and no one questioned it.

“I called up the Bureau of the Public Debt at the Treasury Department, the only people who tell the truth — because they have to. I said I figured that it’s $1.885 trillion, almost half a trillion more than the president, and asked who is right, Mr. Obama or Mr. Gross. And they said, sir, you’re correct, as you usually are. That’s because the government — I speak to them regularly — lies.

“And the way that they do it is that they don’t count the money that they spend from the trust funds. They give the trust funds like Social Security an IOU and the IOU is worthless because it’s part of the national debt. So they lie continually.”

Walter asked what healthcare reform would do to our economy.

“It’s going to cost over $2 trillion, but the worst part of it is that the states, which are virtually bankrupt — they’re $200 billion in the hole — are going to have to pay 43 percent of it,” Gross responded.

“The [federal] government for a couple of years is going to pay most of it, but then after the few years the states are going to be saddled permanently with a giant increased role.

“And what happens is that property taxes will go up.

“Mr. Obama said he’s not going to hurt the middle class but this is a major tax on the middle class.”

He also said, “Obama is going to take maybe a $1 trillion out of Medicare and what will happen is that people are going to die.”

Gross charged that Obama, the left wing of the Democratic Party, and the mainstream media are “masters of deceit” when it comes to the spiraling debt, “because by fooling the American people they’ve tried to calm them.”

Noting that half the people in the U.S. pay no federal income taxes and are supported by the other half, Gross said: “We have no responsible group in America who is taking care of the middle class. The Republicans claimed they were going to, then under Mr. Bush they became like the Democrats in spending.

“This time they’ll probably win because of the distortion by Mr. Obama, but when they do they must then become responsible to the people, because the path they we’re on is a path of absolute and pure destruction.

“The Soviet Union was not invaded, it imploded because of their debt, because of their poor economy, and our federal government is the lead player in destroying the economy.”

By some estimates America’s debt will reach $25 trillion by 2019, with $1.5 trillion a year in interest payments, Gross said.

“We got into this through insane spending,” he added. “We’re going to spend ourselves into oblivion, and someone has to stop it.”

See Video: Martin Gross reveals the frightening truth behind Obama’s massive debts - Click Here Now

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Mali's Islamists Withdraw Cease-Fire Pledge

Friday, 04 Jan 2013 13:06 PM

Tens of thousands of Fatah supporters rallied in the Hamas stronghold of Gaza on Friday for the first time since they we . . .

Fmr. CIA Director Hayden: Iran Nuclear Crisis Gets 'Scarier'

Tuesday, 17 Jul 2012 18:11 PM

 . . .

Join Fmr. CIA Director for Special Iran Briefing, Assess the Danger

Friday, 13 Jul 2012 12:27 PM

 . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved