Tick Tock, goes the U.S. Fiscal Clock
Does anyone believe that the U.S. borrowing 41 cents for every dollar it spends can last?
Does anyone believe that The One can do anything except keep spending? Or raising taxes?
Does anyone believe that the new entitlement of $2.5 Trillion for ObamaCare is going to help our fiscal status?
Does anyone believe that Moody’s and the other bond ratings aren’t rigged to lie about the U.S. and its ability to pay the Obamadebt?
Does anyone believe that interest rates can stay at near zero while the currency devalues, without money being printed to buy the T-Bills the market won’t?
Does anyone believe that the U.S. is going to stop printing money by telling banks to type in billions into their asset lines in their computers; and then tell them to use the newly typed in “money” to buy our T-Bills through third party buyers on T-Bill auction day?
Does anyone believe that The One or Congress can face the U.S. fiscal facts? All they have done is spend and tax. That is all they can do. They are incapable of anything else.
Does anyone believe that the State and County government fiscal crisis is not going to result in a run on the bond insurance issued when the bonds were sold?
Does anyone believe that this “fiscal fantasy land” can last?
No one can tell how long the borrow money to pay your bills (and when no one will lend you money to pay your bills, print what you can’t borrow) strategy will last. One thing is likely, the longer it goes on, when the end of the money printing fiesta comes, the devastation will be far greater than if the borrowing and money printing stopped sooner.
Let’s face facts: the Democrats cannot run the country. The One is accelerating the decline. The Democrats can’t stop him, or help themselves politically by saying no to The One.
Regardless, soon the world will see the U.S. for the fiscal joke we have become.
Americans sense it, but haven’t done anything about it, yet.
If this coming election does not change the course of the nation, then the smart and the able will begin to leave, if not in person, then the work force. Already one of my colleagues has friends whose wife has stopped working because the tax bracket her small salary put them into eliminates her salary completely, and takes more money from his than if she did not work. So she stopped working.
The international money propping up the U.S. will go elsewhere because the U.S. fiscal position is irrational and self-destructive.
The political class believes we can keep borrowing and printing money because we are the too-big-to-fail U.S.
In fact, it is only arrogance and our belief that we can ignore the laws of economics, because we are different and special, means that our fall will be great
As Laurence Kotlikoff, proffessor at Boston University who has done extensive work on government debt levels with his colleagues Christian Hagist, Stefan Moog and Bernd Raffelhuschen, all at Freiburg University said in the Financial
But at least the number three in line for the Presidency, The Speaker has the answer: unemployment checks create jobs!