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Politics : Politics for Pros- moderated
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To: LindyBill who wrote (525761)12/9/2012 4:24:27 PM
From: Copeland4 Recommendations  Read Replies (1) of 794003
 
Re: The inflation cliff

I think it's going to come sooner than that. In 1976, the bicentennial, we were $600 billion in the hole. 200 years to accumulate $600 billion in debt, much of which was still largely owned by the American public. Now we're accumulating debt at a rate of $600 billion every six months, in large part funded no longer by China, but by the Federal Reserve. This can't end well.

The rampant spending needs to end. Unfortunately, austerity here means global pain.
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