Tuesday, August 02, 2011
Ann Barnhardt sums up the debt deal nicely
This is esteemed conservative Ann Barnhardt. She has an explanation of the charade that is the debt-ceiling bill everybody's celebrating today....
I stole this entirely from our friends over at Moonbattery --(Ann) There are no spending cuts in this plan. It is all accounting fraud. Saying that you are not going to spend money in Afghanistan ten years from now is not spending cuts. Even if you accept the $1 Trillion in cuts over ten years propaganda, that is only $100 Billion per year, which is essentially meaningless relative to the size of the problem. Furthermore, even a minuscule uptick in interest rates, which given the massive debasement of our currency is now a mathematical certainty, will completely consume that $100 Billion per year. It’s all a joke.
(Dave Blount of Moonbattery)... Meanwhile, Comrade Obama has been given the green light to waste another $2 TRILLION over the next 16 months.
Where do you think this money is going to come from — who has two trillion dollars to loan us? China? Nope. Not even close. China’s entire GDP is only $6 Trillion. … This $2 Trillion is going to come from the Federal Reserve. Where is the Federal Reserve going to get $2 Trillion? They are going to print it out of thin air. We are in the midst of the largest currency debasement ever seen in human history. There is only one result that can come of currency debasement: hyperinflation and total economic and societal collapse.
Right you are Ann! It's all a big charade and the media will ignore these facts as they praise democrats for being compromisers and vilify the tea parties for being ideological obstructionists. 2012 is shaping up to be even more important than it was a week ago....that is if the country hasn't gone the way of Greece by then.