And So It Begins
For any who might be still unconvinced about the stupidity of the debt-limit deal, how about this:
* As a result of its passage, the U.S. Debt shot up $239 billion in one day!
* On top of that the Government will borrow an additional $72 billion next week!
* Borrowing now is greater than the entire annual economic output of the United States, shattering earlier projections!
* Moody’s and S&P may still reduce our bond ratings (wasn’t about the debt limit, folks – was about the debt!)
On top of all that, the stock markets are in a free-fall, and the price of gold (the haven of absolute last resort) is climbing.
Finally, guess who just endorsed Barack Obama for President? The Communist Party USA. Now, I don’t know about you, but if the CPUSA is pleased with Obama’s performance, we obviously have the wrong group in the White House.
Now, nobody in Washington is calling to ask my opinion, but if they were to, my simple response would be “I told you so!”. I hate that.
Copyright 2011 Karl Bullock
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