Fiscal crisis? Overblown or serious?

[mav]

Rand Paul is one of the good ones. It is too bad we do not have more like him.

I think all of these debt projections are mere fantasy. I believe they will be higher than what a lot of people are saying.

I was just watching the House pass the bill. It is sickening. It is nothing more than a stroke fest.

Edited August 1, 2011 by mav

[Guest Lester Weevils]

As long as tax-hikes remain politically unfeasible, the rise in interest rate on gov bonds will inevitably begin to starve the beast even if congresscritters want to keep up the spending. If people become increasingly unwilling to loan the gov money and the gov has to spend ever more of the budget on interest, then spending will eventually have to fall unless Bernanke decides to go full-zimbabwe on us.

My credit rating for the gov dropped down to F a couple of years ago and I cashed out my meager fed bond holdings. Ain't gonna buy any more. It is amazing they've continued to sell the silly things.

edit: One good effect of an interest rate rise, for folks with some cash-- They might be able to buy CD's again and get something back worth the risk.

Edited August 1, 2011 by Lester Weevils

[kieefer]

Rand Paul is one of the good ones. It is too bad we do not have more like him.

I think all of these debt projections are mere fantasy. I believe they will be higher than what a lot of people are saying.

I was just watching the House pass the bill. It is sickening. It is nothing more than a stroke fest.

+1

Sad day once again of no hope and change, at least in the right direction.

[mav]

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[G27]

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That was great!