Jeff7859 Wrote:
Aug 18, 2012 10:14 AM
Regardless of who wins in November, unless the bloated federal budget is IMMEDIATELY cut 50% and then balanced to infinity (ain't gonna happen!) we are staring at either default or hyperinflation -- the only two options left. The $16 Trillion debt ceiling (which is a joke, BTW) is only the beginning of our real debt. Add in all the pensions, Social Security, Medicare, Medicaid, plus other automatic spending programs tied to inflation, and promises that cannot be met and you are up to $70 Trillion or more. The feds now spend 25% of the GDP and produce nothing. This is ARITHMETIC, not politics. Any fifth grader knows that two variables moving away at different rates cannot last. Our spending has overwhelmed our income.