Rightwords... Prudent Conservatism

The light in the tunnel is that of a train coming our way.

Do you realize the extent of real and countable US liabilities right now? It is north of $112.6 trillion, or about a million dollars per taxpayer. Our total GDP is on the order of $13 trillion. This implies that we are underwater for keeps. There has been no effective response from the Obama team about this crushing number. Real unemployment is north of 20% now, when you count those who have given up looking and are hence excluded from the administration’s count, and this will soon explode further. Yet Obama proposes a budget of over $3 trillion after ignoring a bipartisan committee that had good recommendations.

The idea of printing dollars to pay our way out will shortly be blocked by a group of international monitary people backed by their governments, and the US Dollar will cease being the world’s reserve monitary base. We will enter hyperinflation at about that point or a little after. These are the facts that have trickled down and sparked much of the hysteria, and I, for one, don’t blame people for becoming very highly concerned and emotional.

Labels: Fiscal Responsibility, Money Matters, National Debt

# posted by Mannning @ 4:05 PM