In response to:

The Debt Star We're Building

Steven H of WA Wrote: Jan 27, 2013 5:50 PM
Did you know that the Fed (10.8%) now owns of the debt than China (8%)? We are now running the country’s finances like the Weimar Republic; printing money to pay current operating expenses. And the folks in D.C. are getting rich…Maseratti sells more $250,000 cars there than anywhere else in the country. Obama’s inauguration (coronation?) reminds me of the vision of an 18th century English King riding in his gilded carriage with all the footmen and mounted guards while the throngs of paupers and boys in rags gleefully wave at the spectacle.
scJazz Wrote: Jan 27, 2013 6:05 PM
WTG on the Weimar Republic comment! Still ponder and respond to my comments below.

PS: Rome did the same thing as they were importing practically everything in order to survive! Gee... sound similar?

January 27, 2013

“No,” said the Obama Administration.

The cold, curt, cruel answer no doubt stung the tens of thousands of Americans who had petitioned the White House to support their idea for a new and important job-creating federal program. But as far as President Barack Obama is concerned, the federal government shan’t build a Death Star.

So, why not? Paul Shawcross, a budget official, noted the prohibitive cost, estimated at $850,000,000,000,000,000. (I wonder how much the estimate cost.)

“We’re working hard to reduce the deficit, not expand it,”...

Related Tags: Debt