Hurry! The Sky Is Falling!
We have to rush and pass the Obamacare Plan before anyone has a chance to read it.
Because if anyone does actually read it (I’m not talking Members of Congress here, obviously, as we all know those esteemed folks are way too busy to actually read any of the bills that they vote on) they’ll find that there’s no way we can afford what we’re doing now, let alone any more ideas from the Unicorn Codex
Under current law, the federal budget is on an unsustainable path, because federal debt will continue to grow much faster than the economy over the long run. Although great uncertainty surrounds long-term fiscal projections, rising costs for health care and the aging of the population will cause federal spending to increase rapidly under any plausible scenario for current law. Unless revenues increase just as rapidly, the rise in spending will produce growing budget deficits. Large budget deficits would reduce national saving, leading to more borrowing from abroad and less domestic investment, which in turn would depress economic growth in the United States. Over time, accumulating debt would cause substantial harm to the economy.
The numbers show a horrific scenario, and they only possible way out is a massive inflating of the money supply to devalue the currency and “pay off” the debts…which means we’ll become late 70s/early 80s Argentina.
Hey, look at the bright side: we’ll all be able to celebrate “Cinco de Quatro”.
Most competent evuh.
Nanny State | Mr. Bingley | 
July 17, 2009 6:25 am
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That story left out our status as a reserve currency. One more push to the upside in oil with a depreciating dollar and it’s hasta la byebye. Say hello to the petroeuro or the petrochicom. This will further increase the necessity to offer junk style interest rates to attract capital. Hope and CHANGE.