Politicians and economists are in cahoots. They use unrealistic and unverifiable theories to attain their goals. They are politically aligned, power hungry individuals, who use their collective influence to manipulate our government into doing their bidding. They have created a huge government debt that threatens to topple our government. A few weeks ago, Pimco, the world’s biggest bond fund, said it is eliminating its holdings of government debt. Standard & Poor is threatening to downgrade the credit rating of the United States! The International Monetary Fund has said that a creditable strategy to stabilize the U.S. national debt is “urgently needed!” Our greatest asset, the fact that the U.S. is considered the world’s safest investment, is about to evaporate. President Obama does not seem to recognize the seriousness of our situation. He says his plan will reduce the deficit by 4 trillion dollars over the next 10 years. In other words, the fiscal insanity will continue for another 10 years. The term “deficit reduction” is disturbing. What we need is “debt reduction” which cannot happen with mere deficit reduction. For debt reduction, there cannot be any deficit. Mr. Obama’s plan is to continue spending more than we have which in 10 years will add another $10 trillion to our national debt!
Politicians continue to try and hide the debt crisis created by government economists. It is said that Christopher Columbus was the first economist. When he left to discover America, he didn’t know where he was going. When he got there he didn’t know where he was. And it was all done on a government grant. The government’s plan is to fight the sour economy by borrowing and spending more money and worry about the debt problem later. This is an insane economic theory that will fail and result in an inflationary disaster. Every day the U.S. government needs to borrow $15 billion to fund the deficit. Someone has to buy all that and more important, the U. S. has to repay it. Servicing this staggering debt will require large increases in taxes. The government will have less money to spend and so will all of the citizens. Please urge your congressman to wake up and balance the budget, create a surplus, and start paying down our national debt. This is a wake-up call that needs immediate action! We need help from the “Invisible Hand”.