Economists at the International Monetary Fund (IMF) warned of U.S. government finances in disarray and out-of-control entitlement spending in a report published earlier this month, predicting a bleak future of significantly higher taxes for Americans even with less government spending.

BoeingWith the turmoil in the Middle East and the catastrophe in Japan, it is easy to be distracted from the power plays of the global elite. But this week’s ruling by the World Trade Organization declaring $5.3 billion in U. S. government subsidies to Boeing Corporation illegal is a significant episode in the 15-year effort of the WTO to wrest trade sovereignty from the nations of the world and consolidate it under a global authority.

Harvard Professor Gregory Mankiw (picture, left), in writing a hypothetical speech in the New York Times for the President in the year 2026, thinks politicians can kick the entitlements can down the road for another 15 years. His opening could come from any politician’s current teleprompter:

It used to be one of the great cities of a great nation, a thriving, prosperous metropolis humming night and day with the machinery of America’s industrial superiority. In 1950, individuals and families were still streaming to Detroit to work in the ever-growing automotive industry, and as the U.S. Census Bureau crunched the numbers that year they found the Motor City had grown to an astounding population of 1,849,568 people, with the city fathers predicting two million and beyond in the coming years.

Politically astute viewers of the Glenn Beck program know that he is sounding more like Ron Paul and less like a neoconservative every day. Regular viewers also know that Friday’s episodes tend to be a break from the monotony of current events, with a greater focus on foundations, whether it be the founding of this nation, or the foundations of progressivism, etc. The Friday, March 25, episode of the Glenn Beck program focused on one of the foundations of America’s economic woes: the Federal Reserve.

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