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$7.36 Trillion And Counting |
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Conservative Compass Blog
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Written by Bob Sordahl
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Friday, 05 December 2008 |
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Today’s investment tip: Buy shares in a printing ink company. Not just any ink, but the stuff our Government uses to print money. With the bail out, hand outs and loans stacked on top of existing earmarks and entitlements, the presses in DC are running 24/7. The back door of the Treasury is wide open, and the congressional armored car is sitting there so overloaded it can hardly pull away.
Our lawmakers have begun and contributed to a spending binge that would shame the proverbial drunken sailor. At last report, we are looking at a spending package in excess of $7.36 trillion dollars. Considering our National debt is in the neighborhood of $10 trillion, that is a staggering amount of money. I could break it all down for you here, but if you are like me, your eyes would just glaze over. So instead I will provide a link to a nice chart that lays it out well so you can see which rat-hole each dollar is going down, http://www.cnbc.com/id/27719011. I don’t believe there has been any time in history we have proven so clearly and indisputably that throwing money at a problem seldom fixes it. We still have people losing jobs, we have people defaulting on mortgages and other financial commitments, banks are not loaning money and the Stock Market continues to be in the tank. Our Government has yet to come up with a consistent cohesive strategy to turn things around, and this has become a crisis of confidence. Increasingly our citizens don’t believe that Government is capable of dealing with and resolving the underlying problems causing this fiscal train wreck. And if our Government can’t deal with this domestic issue, how can it protect us from terrorism and aggressive unfriendly nations among other things? We saw the results of the Dot Com bubble. We are living the results of the Housing bubble. Spending as if there is no tomorrow with no clear goal or endgame is the recipe for a Monetary bubble and when it bursts as they all do, there will be no one left to bail any of us out.
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