Provisional
Truth | Book Reviews | July 2006
Running On Empty : How
The Democratic and Republican
Parties are Bankrupting Our Future and What Americans Can Do
About It
by Pete Peterson, July 2004
  Pete Peterson, former Secretary of Commerce
under Richard Nixon and a founder of The Concord Coalition,
presents a factual summary of how both Democrats and
Republicans – our elected representatives in Washington –
have in the last 25 years propelled our country to the brink
of bankruptcy through unbridled spending and tax cuts funded
by increases in the national debt.
That debt – approaching $9 Trillion and counting, of
which half is privately held – more and more is owned by
foreigners (foreign governments). Of the $4 Trillion or so
of privately held federal debt – more than half now is owned
by foreigners, crossing over the 50% mark in 2004. We are
ever-more dependent on foreigner “investors” to sustain our
standard of living, our government expenditures, our tax
cuts, our military adventures and our way of life as never
before in the history of our country.
Peterson makes a logical case for considering
this situation – financial insolvency – as our most
important threat to national security. Not terrorism,
although the economic fallout of terrorism looms large, but
financial insolvency.
What Others Are Saying About
Running On Empty
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