This Train Has No Brakes – Updated
ByHow can it be that 60% or so of Americans approve of the spending going on by The One? Are they all on crack? LSD? Are 60% of us complete idiots? Do less than 60% of us pay taxes? Is it all of the above?
The numbers have been crunched. The One’s spending is going to cost every taxpayer $25,000, and that’s just a down payment. There’s no stopping these people, at least not in the near term.
We all knew it was going to be bad, but did anyone expect it would be this bad? It could take a generation to recover. If our republic lasts that long.
Update: Just when you think it can’t get worse.
Feb. 26 (Bloomberg) — Treasuries fell for a third day as the government sold $22 billion of seven-year notes in the last of three auctions this week as it issues an unprecedented amount of debt to spur the U.S. economy.
Declines were led by 10- and 30-year securities. President Barack Obama’s administration forecast a budget deficit of $1.75 trillion in the fiscal year ending Sept. 30. That’s 23 percent higher than a forecast by economists at primary dealer Goldman Sachs Group Inc., and equivalent to about 12 percent of the nation’s gross domestic product.
Popularity: 2% [?]
