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Politics : Politics for Pros- moderated

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To: LindyBill who wrote (304770)	5/12/2009 3:07:04 PM
From: KLP	1 Recommendation of 793877

What an analogy....and probably more accurate than we know right now.... >>>>>>>>>>>Like the alcoholic who must drink hard liquor every waking moment, massive budget deficits are the key symptom of late-stage FSD. The alcoholic dies, but with FSD, the nation, not the spenders, goes bankrupt. Even today, with Obama just beginning to manage the government, Geithner's Treasury department must offer higher interest rates on bonds it sells to finance planned deficits because bondholders worry about Washington's future repayment ability if taxes are not soon hugely increased. But those increases would kill economic growth, sending government revenues spiraling downward and eventually leaving Washington only one choice – repudiation of debt or bankruptcy. Either way, American prosperity will be a distant memory for generations to come. Intervention cannot come too soon. <<<<<<<<<<<<<<<<

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